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Bridge Loans in Sutton, Vermont
There are 26 private money lenders operating in Sutton, VT. The mean loan made is around $322,143. Interest rates for private loans average around 10.4%. The average loan made in the city is 25 months in length. The average origination fee added to loans is 2.0%. Lenders typically offer a 69% loan to value on hard money loans in Sutton.
Loan Example 1
Number One Investments issues a bridge loan to Terrence for a renovation project in Sutton, VT, on a house that is listed for $170,000. The lender agrees to make a note with a 80% loan-to-value (LTV) so they are willing to loan $136,000 on the property. The interest rate on the note is 12% for a length of 18 months and the company requires a three point origination fee at the closing. The interest is to be paid on a monthly basis and the principle amount will be returned after the property sells.
According to the parameters of the loan, Terrence will be required to contribute a $4,080 origination fee plus 20% of the purchase price, or $34,000, since there is a 80% LTV. Number One Investments will collect $1,360 in monthly interest payments from the borrower. This is calculated by taking the total note value of $136,000, multiplying by the 12% rate of interest, and then dividing that amount by 12. At the expiration of the note, he sells the renovated house for $246,500. After deducting the $24,480 in interest expenses ($1,360 multiplied by 18 months), the $4,080 origination fee, the $136,000 principle on the note, and the $34,000 he contributed to the closing, he will earn a gross profit of $47,940 ($246,500 price minus $198,560 in total costs). This amount would then be reduced by any renovation costs paid by Terrence.
Loan Example 2
Travis finds a duplex in Sutton, VT to remodel and re-sell. Since he does not have enough cash to buy the property outright, he takes a hard money bridge loan from North Side Lending Corporation with the following parameters:
$240,000 purchase price
85% loan-to-value (LTV)
18 month term
14% interest rate
2% origination fee
Travis intends to sell the house at the end of the term for $348,000. If he achieves this goal, the deal numbers will be the following:
$348,000 sales price
- $204,000 principle on note (85% LTV)
- $36,000 cash paid at closing (15% on 85% LTV)
- $4,080 origination fee (2% of the $204,000 principle)
- $42,840 interest payments (18 months x 14% interest)
-----------------------
= $61,080 gross profit (does not include taxes or renovation 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!
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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 ...
Stormfield Capital
35 Old Post Road
Southport, CT 06890
Stormfield Capital is a Southport, CT based private money lender. They provide funding in 12 states throughout the country. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, cash ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
Rapid Commercial Loans
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Sunset Equity Funding
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Culver City, CA 90232
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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REI Capital
5660 Strand Court
Naples, FL 34110
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Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
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Lend Some Money
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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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
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Allied Commercial Funding
5737 Kanan Rd
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Wallace Capital
132 Lincoln Street, Suite 6L
Boston, MA 02111
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Private Capital USA
3505 Veterans Memorial Highway, Suite D
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Green Knight Funding
600 Loring Avenue, Suite 5
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