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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!
Rochester, NH has 47 private money bridge lenders offering loans in the city. The median amount for loans in the city is $305,556. Rates on hard money loans issued to Rochester investors average 11.9%. The median length for notes is 20 months. The average loan offered in the city carries a 2.3 point origination charge. 72% is the mean loan-to-value (LTV) for offered by lenders in Rochester.
Robert is an investor in Rochester, NH. He discovers a run-down property and wants to remodel it and sell it for a profit. The house costs $340,000 but he doesn't have the full amount so he takes a bridge loan with Axis Funding Company. The borrower will be required to bring 25% of the sales price in cash to closing based on a 75% loan to value stipulated by the lender. This makes the principle note from Axis Funding Company $255,000. The terms of the note also stipulate a five point origination fee that will be paid at closing and a 12 month, interest-only note with a 9% interest rate.
The borrower must bring a total of $32,400 up front to pay the $85,000 down payment plus the $12,750 origination fee. After the deal is executed and Robert takes over the project, he will have to begin making payments each month of $1,913 to the lender ($255,000 principle x 9% / 12 months). If Robert achieves his goal of a $493,000 sales price when the loan term expires, he would collect a total profit of $117,300 after repaying the principle amount and subtracting the cash he brought to closing, the origination points, and the total monthly interest payments.
Sabrina locates a townhouse in Rochester, NH to renovate and re-sell. Since she does not have enough cash to buy the property outright, she takes a private money bridge loan from Rolling Brook Lending with the following parameters:
$280,000 purchase price
50% loan-to-value (LTV)
6 month term
9% interest rate
4% origination fee
After the rehab project is finished, if Sabrina sells the house for $378,000, the outcome would be the following:
$378,000 sales price
- $140,000 principle (50% LTV)
- $140,000 cash paid at closing (50% on 50% LTV)
- $5,600 origination fee (4% of the $140,000 principle amount)
- $6,300 total interest paid (6 months x 9% interest)
-----------------------
= $86,100 gross profit (doesn't include taxes or renovation 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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T&M Commercial Funding is an Auburn, ME based private lender who provides loans in 47 states across the US. They provide lending solutions for a variety of situations and needs, including bridge loans and commercial hard money loans. ...
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Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan parameters are flexible, ...
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Father & Son Private Money Lending is a hard money lender providing loans in Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut. They provide fix-and-flip hard money loans, private refinancing, ground up construction loans, commercial loans, ...
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