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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!
Saratoga Springs, NY has 50 hard money bridge lenders in the city. The mean loan made to borrowers is approximately $313,750. Rates for private loans average 11.5%. 41 months is the mean term for loans issued in this city. The average origination fee for loans is 3.6 percent. Lenders offer on average a 68% loan to value (LTV) on loans in Saratoga Springs.
Patsy is a real estate investor in Saratoga Springs, NY. She discovers an older property and wants to rehab it and sell it for a profit. The property costs $360,000 but she does not have the full amount so she obtains a hard money bridge loan with Blue Door Investment Group. The loan to value (LTV) on the deal is 50%. This means Patsy will need to bring 50% of the purchase price to closing and the principle amount will be $180,000 on the deal. The rate on the loan is 8% for a length of 12 months and the lender requires a two point origination fee at closing. The interest is to be paid monthly and the principle will be repaid after the property sells.
Accordingly, the borrower will need to make a $180,000 down payment in addition to paying a $3,600 origination fee. After the deal is executed and Patsy takes on the property, she will begin making payments each month of $1,200 to Blue Door Investment Group ($180,000 principle x 8% / 12 months). Patsy's intention is to finish the renovation within the 12 months and sell it for $432,000. If she succeeds she will make a profit of $54,000 ($432,000 price - $180,000 principle amount - $180,000 cash at closing - $3,600 origination fee - $14,400 in total interest paid.
Maureen is a real estate investor in Saratoga Springs, NY. She finds a run-down townhouse for a rehab project and obtains a private money bridge loan from Brook View Investment Corporation with the following terms:
a) A $150,000 purchase price, b) a 85% loan-to-value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 4% origination fee.
Based on a $210,000 sales price after the 12 month term, the numbers for this deal would look like this:
$210,000 sales price
- $127,500 principle on note (85% LTV)
- $22,500 down payment (15% on 85% LTV)
- $5,100 origination points (4% of the $127,500 principle)
- $15,300 interest payments (12 months x 12% interest)
-----------------------
= $39,600 total profit (does not 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!
Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 46 states throughout the US. They provide short-term and long-term fix and flip loans, loans for rental properties, bridge loans, and ground-up new construction 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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