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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!
There are 50 lenders operating in Somerset, NJ. The mean note amount in the city is $581,111. Interest rates for private loans average about 10.1%. The mean length for loans is 18 months. The mean origination fee for the loans is 2.2 points. The mean loan to value for loans in Somerset is 72%.
Famous Investment Company issues a bridge loan to Flora for a rehab project in Somerset, NJ, on a house that costs $270,000. The loan-to-value (LTV) on the note is 80%. This means Flora will bring 20% of the sales price to closing and the principle amount will be $216,000 on the note. The loan is interest only, with monthly payments, and is for 6 months at 13% interest with 4 points paid at the closing.
By the terms of the note, Flora will be required to contribute a $8,640 origination fee plus 20% of the sales price, or $54,000, based on the 80% LTV. Once the deal is executed and Flora takes over the project, she will have to begin making monthly payments of $2,340 to Famous Investment Company ($216,000 principle x 13% / 12 months). At the end of the loan, she sells the rehabed house for $391,500. After subtracting the $14,040 in total interest payments ($2,340 times 6 months), the $8,640 origination fee, the $216,000 principle amount on the loan, and the $54,000 she brought to closing, she will earn a total profit of $98,820 ($391,500 price minus $292,680 in costs). This profit would be reduced by any rehab costs paid out of pocket.
Manuel is a an investor in Somerset, NJ. He buys a run-down townhouse for a rehab project and obtains a bridge loan from Red Oak Funding with the following features:
$190,000 sales price
55% loan to value (LTV)
18 month term
14% rate of interest
1% origination fee
Manuel plans to sell the project at the end of the term for $247,000. If he achieves this goal, the final numbers will be as follows:
$247,000 sales price
- $104,500 note principle (55% LTV)
- $85,500 down payment (45% on 55% LTV)
- $1,045 origination fee (1% of the $104,500 principle)
- $21,945 total interest paid (18 months x 14% interest)
-----------------------
= $34,010 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 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!
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 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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Headquartered in Lakehurst, NJ, Alpha Funding Solutions is a hard money lender providing funding throughout New Jersey, Connecticut, Pennsylvania, New York, Maryland, Delaware, and Florida. They offer hard money bridge loans, long term rental property loans, private commercial ...
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Residential Capital Partners is hard money lender based in Dallas, TX. They offer funding in North Carolina, South Carolina, New Jersey, New York, Connecticut, Pennsylvania, and Texas. They offer lending solutions for many different needs and ...
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LYNK Capital is a fast-growing private lender offering residential renovation, construction, and rental loans. Our team has decades of construction lending experience and we're here to help you through every stage of your project.We lend in: AL, CT, DC, DE, ...
Straightline Funding is direct hard money lender that provides loans in many larger metro areas throughout the US. We specialize in 1-4 family loans for investors. Our loan menu consists of:R2R (Residential For Rent): 30 Year fixed rate loans for ...
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LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
Gelt Financial LLC was founded in 1989 to help both borrowers and brokers finance their real estate. With loan amounts from $100K-$5M on vacant, non-owner occupied, and owner-occupied properties, Gelt Financial funds both purchases and refinances. Additionally, Gelt provides creative ...
Headquartered in Columbia, MD, Hard Money Bankers is an asset-based lender offering loans in Maryland, Virginia, Washington DC, Pennsylvania, and New Jersey. They offer lending solutions for many different needs and situations, including private refinancing, commercial loans, fix ...
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Sherman Bridge Lending is a hard money lender headquartered in Irving, TX.They current lend in the following states: AL, CA, CO, FL, GA, KS, KY, MD, MO, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WI and the District ...
Layla Capital is a direct lender based in Boca Raton, FL (formerly New York City) that specializes in small to middle market debt opportunities in primary and secondary markets nationwide, with a greater focus on the East Coast and Midwest. ...
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Dimension Equities is a New York, NY based private money lender who provides funding throughout New York City. They provide fix and flip loans, commercial loans, loans for rental properties, short term loans, and cash out loans. ...
Fort Amsterdam Capital is a New York, NY based hard money lender who provides loans throughout New York City. They provide fix-and-flip hard money loans, loans for rental properties, private commercial loans, and bridge loans. They issue ...
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