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With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
There are 43 private money lenders operating in Pingree, ID. The average amount for loans in the city is $335,000. The average rate for loans in Pingree is 10.8%. 21 months is the average term for loans made in this city. The mean loan includes a 3.3 point origination cost. 75% is the mean LTV for offered by lenders in Pingree.
Ashley finds a townhome in Pingree, ID to remodel and re-sell. Since she does not have enough cash to buy the $220,000 property outright, she decides to take out a bridge loan from Oceanside Lending Corporation. The borrower will need to fund 40% of the sales price in cash to the closing based on a 60% loan-to-value stipulated by the lender. This makes the principle amount from Oceanside Lending Corporation $132,000. The loan also has the following features: 1) a 12 month length, 2) a 12% interest-only note, and 3) a two point origination charge.
In addition to paying the $2,640 origination fee, Ashley will also need to fund $88,000 of the purchase with her own cash, or 40% of the sales price. she must then pay $1,320 monthly to the lender. If Ashley sells the property for $297,000 after 12 months, she would earn a gross profit of $58,520 after deducting the principle amount of $132,000, the funds contributed at closing of $88,000, the origination fee of $2,640, and the total interest payments of $15,840. This profit does not include renovation costs.
Addie is a real estate investor in Pingree, ID. She buys an older property for a rehab project and obtains a bridge loan from K & M Lending Corporation with the following features:
$330,000 purchase price
55% loan-to-value (LTV)
18 month term
13% rate of interest
2% origination fee
Addie intends to sell the house when the note expires for $495,000. If she achieves this goal, the deal numbers would be as follows:
$495,000 sales price
- $181,500 principle on note (55% LTV)
- $148,500 down payment (45% on 55% LTV)
- $3,630 origination fee (2% of the $181,500 principle)
- $35,393 total interest paid (18 months x 13% interest)
-----------------------
= $125,978 gross profit (does not 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!
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!
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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Headquartered in New York, NY, Roc Capital is a lender offering loans all across the United States. They offer fix-and-flip loans, private refinancing, bridge loans, and commercial loans. Their loan guidelines are flexible, including rates starting at 7.49% , loan ...
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Allied Commercial Funding is private lender headquartered in Agoura Hills, CA. They provide funding in 43 states throughout the US. They provide lending solutions for a variety of situations and needs, including hard money loans for commercial ...
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