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.
Bridge Loans in Peacham, Vermont
Peacham, VT has 26 bridge lenders serving the city. In this city, the median note amount is $339,445. The median interest rate for private loans in Peacham is 10.4%. The average length for loans is 22 months. The mean origination percentage added to loans is 2.3%. Lenders typically offer a 72% loan-to-value on deals in Peacham.
Loan Example 1
Howard is an investor in Peacham, VT. He finds an older property and decides to remodel it and flip it for a profit. The property costs $220,000 but he does not have the full amount so he obtains a hard money bridge loan with Capable Lending Corporation. Because the lender agrees to a 50% loan to value, Howard will need to put 50% down and the amount of the note will be $110,000. The deal also includes these features: 1) a 18 month term, 2) a 12% interest-only note, and 3) a three point origination fee.
Howard will have to contribute a total of $32,400 up front to cover the $110,000 down payment in addition to the $3,300 origination fee. After the deal is executed and Howard takes on the project, he will have to begin making monthly payments of $1,100 to Capable Lending Corporation ($110,000 principle x 12% / 12 months). If Howard sells the property for $264,000 after 18 months, he would earn a gross profit of $20,900 after subtracting the principle amount of $110,000, the money paid at closing of $110,000, the origination points of $3,300, and the total interest payments of $19,800. This gross profit does not include renovation costs.
Loan Example 2
Nikki finds a duplex in Peacham, VT to remodel and re-sell. Since she does not have enough cash to buy the property outright, she takes a hard money bridge loan from River City Investments with the following parameters:
a) A $270,000 sales price, b) a 80% loan to value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 5% origination fee.
If Nikki achieves her goal of a $405,000 sales price, the numbers of the deal would be as follows:
$405,000 sales price
- $216,000 principle on note (80% LTV)
- $54,000 down payment (20% on 80% LTV)
- $10,800 origination points (5% of the $216,000 principle amount)
- $42,120 total interest paid (18 months x 13% interest)
-----------------------
= $82,080 total profit (doesn't include taxes or rehab costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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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Green Knight Funding
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