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Bridge Loans in San Jon, New Mexico
San Jon, NM has 34 private money lenders operating within the city. The median note amount is $300,000. Interest rates on loans issued to San Jon borrowers average about 11.1%. 23 months is the median length for loans offered in this city. The mean points applied to loans is 2.8%. 76% is the average loan to value (LTV) offered for for loans in San Jon.
Loan Example 1
Luella takes a private money bridge loan from Trust Finance Corporation in order to renovate a townhouse to flip in San Jon, NM. The price of the property is $350,000. The terms of the deal include a 65% loan to value (LTV), so she must contribute 35% of the price as cash at closing, which makes the principle note amount $227,500. The terms of the loan dictate a 14% note for 18 months. They also stipulate a 3 point origination fee, which will also have to be paid upon closing.
In addition to paying the $6,825 origination fee, Luella will also have to fund $122,500 of the purchase with her own money, or 35% of the sales price. After the deal is closed and Luella takes over the property, she will have to begin making monthly payments of $2,654 to Trust Finance Corporation ($227,500 principle x 14% / 12 months). If Luella sells the project for $455,000 after 18 months, she would realize a total profit of $50,400 after subtracting the original principle of $227,500, the money contributed at closing of $122,500, the origination points of $6,825, and the aggregate interest payments of $47,775. This amount does not include rehab costs.
Loan Example 2
Odessa locates a townhouse in San Jon, NM to renovate and re-sell. Because she does not have enough cash to buy the property outright, she takes a hard money bridge loan from Dimension Lending with the following parameters:
a) A $150,000 sales price, b) a 75% loan to value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 4% origination fee.
Based on a $187,500 sales price at the end of the 18 month term, the outcome for the project would look like the following:
$187,500 sales price
- $112,500 principle on note (75% LTV)
- $37,500 down payment (25% on 75% LTV)
- $4,500 origination points (4% of the $112,500 principle amount)
- $21,938 interest payments (18 months x 13% interest)
-----------------------
= $11,063 total profit (doesn't include taxes or rehab costs)
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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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
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
Secured Investment Lending
1485 International Parkway, Suite 1031
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Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
Asset Avenue
1100 Glendon Ave, 18th Floor
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Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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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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Rapid Commercial Loans
6136 Frisco Square suite 433
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
Sharestates
45 North Station Plaza
Great Neck, NY 11021
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Mountain View Investors
7820 Enchanted Hills Blvd NE, Suite A-128
Rio Rancho, NM 87144
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Red Rock Capital
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Heartland Capital Group
15455 Dallas Parkway, suite 600
Addison, TX 75001
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
Redmond, WA 98052
Velocity Mortgage Capital is a wholesale, nationwide lender for asset-based, investment real estate, lending since 2004. We never look at the tax returns or personal income statements of our borrowers. Instead, our focus is the income producing potential of the ...
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
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Riverdale Funding
207 Mockingbird Ln, #402
Johnson City, TN 37604
Based in Johnson City, TN, Riverdale Funding is a hard money lender offering loans in 37 states across the country. They provide lending solutions for a variety of scenarios, including loans for investments properties, commercial hard money loans, fix ...
Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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Payette Financial Services
202 N. 9th Street, Suite 300
Boise, ID 83702
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Omega Funding
PO Box 200862
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Allied Commercial Funding
5737 Kanan Rd
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