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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!
Moose, WY has 38 private money bridge lenders in the city. In this city, the average amount loaned is $291,000. Interest rates for hard money loans average 9.9%. The typical length offered for loans is 22 months. The average origination percentage added to loans is 4.0%. 77% is the typical loan to value (LTV) offered for offered by lenders in Moose.
Christian takes a bridge loan from Capable Investment Group in order to renovate a house to resale in Moose, WY. The sales price of the property is $380,000. The borrower will be required to contribute 15% of the sales price in cash to closing based on a 85% loan to value set by the lender. This makes the loan principle from Capable Investment Group $323,000. The deal also consists of these features: 1) a 18 month length, 2) a 12% interest-only note, and 3) a two point origination fee.
Christian will have to contribute $57,000 at the closing (15% on the 85% loan to value), plus he will pay the $6,460 origination fee. The monthly interest-only payments will then total $3,230 to the lender. If Christian meets his goal of a $456,000 total sales price when the loan expires, he would pocket a total profit of $11,400 after re-paying the principle and subtracting the money he brought to closing, the origination points, and the total interest payments.
Jamie takes a private money bridge loan from Hometown Finance Group in order to renovate a property to flip in Moose, WY. The loan has the following parameters:
$260,000 sales price
75% loan to value (LTV)
18 month term
13% interest rate
4% origination fee
Assuming a $377,000 sales price after the 18 month term, the outcome for the deal would look like the following:
$377,000 sales price
- $195,000 note principle (75% LTV)
- $65,000 down payment (25% on 75% LTV)
- $7,800 origination fee (4% of the $195,000 principle amount)
- $38,025 total interest paid (18 months x 13% interest)
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= $71,175 gross profit (doesn't include taxes or rehab costs)
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!
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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