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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!
There are 50 records for private money bridge lenders offering loans in Peabody, MA. Note amounts average approximately $332,750. Interest rates on loans issued to Peabody borrowers average about 12.4%. 15 months is the average term for notes issued in this city. The mean origination for the loans is 3.2 points. Lenders in Peabody average a 73% LTV on their deals.
Ollie takes a bridge loan from Friendly Funding Corporation in order to rehab a property to resale in Peabody, MA. The list price of the house is $390,000. The loan-to-value (LTV) on the loan is 70%. This means that Ollie will need to bring 30% of the sales price to the closing and the principle amount will be $273,000 on the loan. The loan also has the following features: 1) a 6 month term, 2) a 12% interest only note, and 3) a three point origination fee.
Therefore, the borrower will need to contribute a $117,000 down payment plus pay a $8,190 origination fee. The monthly interest only payments will then be $2,730 to the lender. If Ollie sells the project for $507,000 after 6 months, she would then make a total profit of $92,430 after subtracting the principle of $273,000, the money paid at closing of $117,000, the origination fee of $8,190, and the aggregate interest payments of $16,380. This amount does not include renovation costs.
Corey is a real estate investor in Peabody, MA. He locates an older house for a rehab project and takes out a private money bridge loan from Affluent Investment Group with the following terms:
$180,000 purchase price
70% loan to value (LTV)
18 month term
14% interest rate
4% origination fee
Assuming a $270,000 sales price after the 18 month term, the final numbers for the deal would look like the following:
$270,000 sales price
- $126,000 principle (70% LTV)
- $54,000 cash paid at closing (30% on 70% LTV)
- $5,040 origination points (4% of the $126,000 principle)
- $26,460 interest payments (18 months x 14% interest)
-----------------------
= $58,500 total 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!
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!
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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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. ...
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Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
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Park Place Finance is a nationwide, direct private lender, specializing in Fix and Flip, Bridge, and DSCR loans. With same day approvals and an average 3-5 day close time, Park Place Finance is the business partner you need to get ...
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Grand Coast Capital Group is a Quincy, MA based private lending and investment firm that provides creative financing solutions to local real estate investors, operators, and developers across the country.We offer loans for a variety of situations, including commercial loans, ...
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Stage Point Capital LLC is private money lender headquartered in Naples, FL. They offer funding in Rhode Island, Massachusetts, and Georgia. They offer loans for a variety of scenarios, including short term bridge loans and fix-and-flip ...
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The Magee Group is an asset-based lender in Quincy, MA providing funding throughout Boston. They provide commercial loans, short term bridge loans, and fix and flip hard money loans. Their loan parameters are flexible, including terms ...
Avant Capital Partners is a New York, NY based private money lender who provides loans throughout Chicago, Washington DC, and Boston. They offer hard money bridge loans and commercial hard money loans. Their loan parameters are versatile, ...
Endeavor Capital is private lender headquartered in Boston, MA. They offer funding in Boston. They offer hard money loans for commercial properties and short term loans. They offer loan amounts ranging from $100,000 to $10,000,000 ...
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