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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!
A total of 50 records for hard money bridge lenders were found in South Park, PA. In this city, the mean amount loaned is $282,500. The mean rate for private loans in South Park is 11.3%. The typical length offered for notes is 12 months. The average note includes a 3.3 percent origination fee. The mean loan-to-value offered for loans in South Park is 72%.
Dennis finds a duplex in South Park, PA to rehab and resell. Since he does not have enough cash available to purchase the $160,000 property outright, he decides to take out a hard money bridge loan from Prime Time Lending Corporation. The borrower will have to bring 30% of the sales price in cash to closing based on a 70% loan-to-value set by the lending company. This makes the principle note from Prime Time Lending Corporation $112,000. The loan is interest-only, with monthly payments, and is for 12 months at 11% interest with 3 origination points to be paid when the deal closes.
By the terms of the note, Dennis will need to contribute a $3,360 origination fee plus 30% of the sales price, or $48,000, since there is a 70% LTV. The monthly interest-only payments will then total $1,027 to the lender. Dennis's plan is to finish the project by the end of the 12 months and resell it for $240,000. If he succeeds he will make a gross profit of $64,320 ($240,000 sales price - $112,000 principle - $48,000 funds brough to closing - $3,360 origination fee - $12,320 in total interest payments.
Kent locates a townhouse in South Park, PA to rehab and sell. Because he does not have enough cash to buy the property outright, he takes a bridge loan from Rising Sun Funding Corporation with the following parameters:
$190,000 sales price
85% loan-to-value (LTV)
18 month term
9% rate of interest
2% origination fee
Once the rehab project is completed, if Kent sells the property for $266,000, the numbers would be the following:
$266,000 sales price
- $161,500 loan principle (85% LTV)
- $28,500 down payment (15% on 85% LTV)
- $3,230 origination points (2% of the $161,500 principle)
- $21,803 interest payments (18 months x 9% interest)
-----------------------
= $50,968 total profit (doesn't include taxes or rehab costs)
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!
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!
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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, ...
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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 ...
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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. ...
Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
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 ...
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Trius Lending Partners is a hard money lender in Baltimore, MD providing funding in Maryland, Pennsylvania, Delaware, Washington DC, and Virginia. They provide loans for many different situations and needs, including commercial loans, short term bridge loans, fix ...
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Summit Capital is private money lender headquartered in Fairfield, NJ. They offer funding in New Jersey, Connecticut, New York, Pennsylvania, Delaware, and Florida. They provide hard money bridge loans, commercial loans, and fix-and-flip hard money ...
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