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!
Bridge Loans in Montpelier, Vermont
There are 26 hard money lenders operating in Montpelier, VT. The median amount for loans is $340,000. Interest rates for loans average about 10.3%. 23 months is the median term for loans issued in the city. A typical hard money loan made in this city carries a 2.5 point origination cost. Lenders in Montpelier average a 70% LTV on their deals.
Loan Example 1
West End Investment Group makes a hard money bridge loan to Tony for a renovation project in Montpelier, VT, on a property that is listed for $350,000. The terms of the deal include a 85% loan to value (LTV), so he must contribute 15% of the price as cash at closing, making the principle note amount $297,500. The loan is interest only, with monthly payments, and is for 18 months at 12% interest with 2 origination points paid at the closing.
In addition to paying the $5,950 origination fee, Tony will also have to fund $52,500 of the purchase with his own funds, or 15% of the purchase price. he will then pay $2,975 monthly to West End Investment Group. If Tony sells the property for $507,500 after 18 months, he would make a total profit of $98,000 after deducting the principle of $297,500, the cash contributed at closing of $52,500, the origination points of $5,950, and the total interest payments of $53,550. This amount doesn't account for building costs.
Loan Example 2
Lloyd locates a house in Montpelier, VT to renovate and re-sell. Because he does not have enough cash to buy the property outright, he takes a bridge loan from Pretty Perfect Lending Group with the following parameters:
$400,000 sales price
75% loan-to-value (LTV)
18 month term
13% interest rate
2% origination fee
Once the renovation project is completed, if Lloyd sells the property for $540,000, the final numbers would be as follows:
$540,000 sales price
- $300,000 loan principle (75% LTV)
- $100,000 cash paid at closing (25% on 75% LTV)
- $6,000 origination fee (2% of the $300,000 principle amount)
- $58,500 total interest paid (18 months x 13% interest)
-----------------------
= $75,500 total profit (doesn't include taxes or rehab costs)
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels.
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Harbor Private Equity
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Stormfield Capital
35 Old Post Road
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Patch Lending
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Sherman Oaks, CA 91403
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T&M Commercial Funding
259 Minot Ave
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Peak Choice Capital
601 Silver Creek Drive
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Rapid Commercial Loans
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Cherrywood Commercial
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Sunset Equity Funding
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Roc Capital
645 Madison Ave
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42 Thompson Street, Suite 1A
East Haven, CT 06513
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Primeau Funding
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
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75 Arlington Street, Suite 500
Boston, MA 02116
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20 West Vine Street #575
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Green Knight Funding
600 Loring Avenue, Suite 5
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Wallace Capital
132 Lincoln Street, Suite 6L
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