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 Pocahontas, Mississippi
Pocahontas, MS has 31 private money lenders issuing loans in the city. In this city, the average loan amount is $285,000. Rates for hard money loans average 11.3%. The mean note issued in this city is for 19 months. The average loan offered in this city includes a 2.3 point origination charge. 71% is the average loan to value (LTV) offered for for loans in Pocahontas.
Loan Example 1
Sunrise Lending Corporation makes a bridge loan to Josie for a renovation project in the Lakeover area of Pocahontas, MS, on a house that costs $370,000. The borrower will be required to contribute 35% of the purchase price in cash to closing based on a 65% loan to value stipulated by the lending company. This makes the principle amount from Sunrise Lending Corporation $240,500. The loan is interest only, with monthly payments, and is for 18 months at 8% interest with 3 points to be paid at closing.
In accordance with the terms of the deal, Josie will need to contribute a $7,215 origination fee in addition to 35% of the purchase price, or $129,500, since there is a 65% LTV. Once the loan is executed and Josie takes the project, she will have to begin making payments each month of $1,603 to Sunrise Lending Corporation ($240,500 principle x 8% / 12 months). At the end of the loan, she sells the renovated house for $555,000. After deducting the $28,860 in total interest payments ($1,603 times 18 months), the $7,215 origination fee, the $240,500 principle on the loan, and the $129,500 she contributed to closing, she will make a gross profit of $148,925 ($555,000 sales price minus $406,075 in total costs). This amount would be reduced by any building costs paid by the borrow.
Loan Example 2
Acme Lending Group makes a private money bridge loan to Ron for a renovation project in the Coalition of Homeowners Association area of Pocahontas, MS. The loan dictates the following:
$180,000 sales price
70% loan-to-value (LTV)
6 month term
12% rate of interest
2% origination fee
If Ron succeeds in his goal of a $225,000 sales price, the final numbers of the project will be the following:
$225,000 sales price
- $126,000 note principle (70% LTV)
- $54,000 down payment (30% on 70% LTV)
- $2,520 origination fee (2% of the $126,000 principle amount)
- $7,560 interest payments (6 months x 12% interest)
-----------------------
= $34,920 total 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!
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!
Temple View Capital
7550 Wisconsin Ave. 10th Floor
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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Patch Lending
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Angel Oak Prime Bridge
980 Hammond Drive, Suite 850
Atlanta, GA 30328
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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Straightline Funding
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Matthews, NC 28105
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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LendingOne
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
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T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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Rapid Commercial Loans
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Sharestates
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Peak Choice Capital
601 Silver Creek Drive
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Red Rock Capital
2139 Chuckwagon Road, Suite 315
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4445 Corporation Ln Suite 264
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Roc Capital
645 Madison Ave
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2150 Coral Way | Suite 1A
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42 Thompson Street, Suite 1A
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Primeau Funding
10575 N. 114th St. Suite 103
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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
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Asset Avenue
1100 Glendon Ave, 18th Floor
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Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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Riverdale Funding
207 Mockingbird Ln, #402
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