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!
Bridge Loans in Fontana Dam, North Carolina
Fontana Dam, NC has 50 hard money bridge lenders operating in the city. In this city, the median note amount is $342,500. The median rate for hard money loans in Fontana Dam is 11.7%. The median note issued in the city is for 24 months. The average loan includes a 2.3 percent origination cost. The median loan to value (LTV) for loans in Fontana Dam is 73%.
Loan Example 1
Noreen is a house flipper in Fontana Dam, NC. She finds a run-down property and decides to remodel it and flip it for a profit. The house has a cost of $240,000 but she does not have the full amount so she takes out a private money bridge loan with Red View Finance Group. Since the lender agrees to a 75% loan-to-value, Noreen will be required to put 25% down and the total amount of the loan will be $180,000. The interest rate on the loan is 12% for a term of 12 months and the company requires a five point origination fee at closing. The interest is to be paid on a monthly basis and the principle amount will be returned after the sale of the property.
In accordance with the parameters of the note, Noreen will have to contribute a $9,000 origination fee plus 25% of the sales price, or $60,000, based on the 75% LTV. The monthly interest only payments will then total $1,800 to the lender. Assuming Noreen sells the rehabed project for $336,000 at the end of the 12 month term, her gross profit (not including renovation expenses) would be $65,400. This is calculated by taking the sales price ($336,000) and subtracting the original principle ($180,000), the origination cost ($9,000), the cash she brought to closing ($60,000), and the total interest expenses ($21,600).
Loan Example 2
Glenn finds a duplex in Fontana Dam, NC to renovate and re-sell. Because he does not have enough cash to buy the property outright, he takes a hard money bridge loan from Downtown Finance Group with the following parameters:
a) A $330,000 purchase price, b) a 55% loan-to-value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 5% origination fee.
Glenn plans to list the house when the note expires for $495,000. If he achieves this goal, the final numbers will be the following:
$495,000 sales price
- $181,500 loan principle (55% LTV)
- $148,500 down payment (45% on 55% LTV)
- $9,075 origination points (5% of the $181,500 principle amount)
- $8,168 interest payments (6 months x 9% interest)
-----------------------
= $147,758 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 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.
Temple View Capital
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Stratton Equities
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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Direct Lending Partner
701 W Broad Street, Suite 200
Bethlehem, PA 18018
Direct Lending Partners originates short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate in the states of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, MO, NC, NE, ...
Kiavi
575 Market Street
San Francisco, CA 94105
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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
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
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Angel Oak Prime Bridge
980 Hammond Drive, Suite 850
Atlanta, GA 30328
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Residential Capital Partners
3838 Oak Lawn Avenue, Suite 1500
Dallas, TX 75219
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LYNK Capital
7100 Six Forks Road, Suite 335
Raleigh, NC 27615
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Straightline Funding
250 N. Trade Street, Suite 209
Matthews, NC 28105
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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Genesis Capital
21650 Oxnard Street, Suite 1700
Woodland Hills, CA 91367
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Sherman Bridge Lending
5000 Riverside Drive, Bldg. 5, Suite 100W
Irving, TX 75039
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LendingOne
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
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Layla Capital
7777 Glades Road
Boca Raton, FL 33436
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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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Carolina Hard Money
4607 Charlotte Hwy, suite 3
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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
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Walnut Street Finance
4021 University Dr #200
Fairfax, VA 22030
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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
Shorewood , IL 60432
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Rehab Financial Group
1062 Lancaster Ave, Suite 15C
Rosemont, PA 19010
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Red Rock Capital
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
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Pepe Berard Capital
211 South Ridge Street
Rye Brook, NY 10573
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Sharestates
45 North Station Plaza
Great Neck, NY 11021
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
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Capital Three Sixty
7 Towpath Lane
Avon, CT 06001
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Flip N Fast Loans
4445 Corporation Ln Suite 264
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REI Capital
5660 Strand Court
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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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Asset Avenue
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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Convisions Capital Group
5709 Enoree Lane
Raleigh, NC 27616
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BridgeInvest
2601 South Bayshore Drive, Suite 1460
Miami, FL 33133
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Old North Capital Fund
525 North Tryon Street
Charlotte, NC 28202
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Riverdale Funding
207 Mockingbird Ln, #402
Johnson City, TN 37604
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Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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YC Funding
1010 NE 2nd Ave
Miami Beach, FL 33132
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Unlimited Capital Group
2670 N. Main St, Suite 350B
Santa Ana, CA 92705
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NLDS Corp
35 Trenton Ave
Long Beach, NY 11561
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Allied Commercial Funding
5737 Kanan Rd
Agoura Hills, CA 91301
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