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With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
There are 50 hard money lenders serving Mercer Island, WA. The mean note amount is $359,375. Rates on private loans issued to Mercer Island investors average around 10.8%. The typical length for notes is 18 months. The average origination for loans is 3.4 percent. Lenders in Mercer Island average a 74% loan to value (LTV) on their deals.
Brook View Investment Corporation makes a private money bridge loan to Lillian for a rehab project in the Dunlap neighborhood of Mercer Island, WA, on a house that is listed for $310,000. The borrower will need to fund 45% of the purchase price in cash to closing based on a 55% loan-to-value set by the lending company. This makes the loan principle from Brook View Investment Corporation $170,500. The interest rate on the loan is 8% for a length of 12 months and the company requires a one point origination fee at closing. The interest payments are to be paid on a monthly basis and the principle amount will be repaid after the sale of the property.
On top of the $1,705 origination fee, Lillian will also have to fund $139,500 of the purchase with her own funds, or 45% of the purchase price. After the deal is closed and Lillian takes on the project, she will have to begin making payments each month of $1,137 to Brook View Investment Corporation ($170,500 principle x 8% / 12 months). Lillian's intention is to finish the remodel within the 12 months and re-sell it for $403,000. If she succeeds she will earn a gross profit of $77,655 ($403,000 price - $170,500 principle amount - $139,500 cash at closing - $1,705 origination points - $13,640 in total interest payments.
Roland takes a bridge loan from Johnson Finance Corporation so he can rehab a house to re-sell in the Newport Shores neighborhood of Mercer Island, WA. The deal has the following terms:
a) A $210,000 sales price, b) a 55% loan to value (LTV), c) a 18 month term, d) a 12% interest rate, and e) a 4% origination fee.
Based on a $283,500 sales price after the 18 month term, the final numbers for the deal would look like the following:
$283,500 sales price
- $115,500 note principle (55% LTV)
- $94,500 down payment (45% on 55% LTV)
- $4,620 origination points (4% of the $115,500 principle)
- $20,790 interest payments (18 months x 12% interest)
-----------------------
= $48,090 total profit (does not include taxes or renovation costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Nation’s fastest and easiest private real estate lender - Funding Fix and Flip, Ground-Up Construction, and DSCR. Closing as fast as 5 business days!
Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 46 states throughout the US. They provide short-term and long-term fix and flip loans, loans for rental properties, bridge loans, and ground-up new construction loans ...
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With more than $21B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors (REIs). Kiavi harnesses the power of data & technology to offer REIs a simpler, more reliable, and faster way ...
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Builders Capital is hard money lender headquartered in Seattle, WA. They offer loans throughout Washington and Oregon. They offer ground up construction loans, fix and flip loans, and short term bridge loans. They offer ...
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Asset Avenue is private money lender based in Los Angeles, CA. They provide loans in 44 states across the United States. They provide loans for a variety of needs and situations, including short term loans, investment property ...
Gelt Financial LLC was founded in 1989 to help both borrowers and brokers finance their real estate. With loan amounts from $100K-$5M on vacant, non-owner occupied, and owner-occupied properties, Gelt Financial funds both purchases and refinances. Additionally, Gelt provides creative ...
Layla Capital is a direct lender based in Boca Raton, FL (formerly New York City) that specializes in small to middle market debt opportunities in primary and secondary markets nationwide, with a greater focus on the East Coast and Midwest. ...
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
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Based in Arcadia, CA, Level 4 Funding is a private lender providing loans in 8 states across the country. They offer cash out hard money loans, short term bridge loans, construction loans, rental property loans, private commercial loans, ...
Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
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