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 San Jon, New Mexico
San Jon, NM has 33 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)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Temple View Capital
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Stratton Equities
28 Bloomfield Avenue
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
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Patch Lending
15000 Ventura Blvd Ste 300
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Gelt Financial
6401 Congress Ave, Suite 215
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LendingOne
901 Yamato Rd, Suite 150
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T&M Commercial Funding
259 Minot Ave
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Rapid Commercial Loans
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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Sharestates
45 North Station Plaza
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Mountain View Investors
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Red Rock Capital
2139 Chuckwagon Road, Suite 315
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Sunset Equity Funding
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Heartland Capital Group
15455 Dallas Parkway, suite 600
Addison, TX 75001
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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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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75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
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Riverdale Funding
207 Mockingbird Ln, #402
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2139 Chuckwagon Road, Suite 315
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1100 Glendon Ave, 18th Floor
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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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