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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 private money bridge lenders were found in Saint Marks, FL. The mean note amount in this city is $317,188. Interest rates for loans average about 10.6%. The average note issued in this city has a term of 18 months. The average origination percentage charged for loans is 3.0%. The typical loan to value (LTV) for loans in Saint Marks is 75%.
North Star Lending Company makes a bridge loan to Travis for a renovation project in Saint Marks, FL, on a property that is listed for $390,000. The loan to value (LTV) on the deal is 85%. This means Travis will bring 15% of the sales price to closing and the principle will be $331,500 on the note. The loan also has these features: 1) a 18 month length, 2) a 14% interest-only note, and 3) a five percent origination fee.
Travis will have to bring $58,500 at closing (15% on the 85% LTV), plus he will pay the $16,575 origination fee. The monthly interest-only payments will then be $3,868 to the lender. At the expiration of the loan, he sells the rehabed property for $526,500. After subtracting the $69,615 in interest payments ($3,868 multiplied times 18 months), the $16,575 origination fee, the $331,500 principle on the loan, and the $58,500 he contributed to closing, he will make a total profit of $50,310 ($526,500 sales price minus $476,190 in costs). This amount would be reduced by any building costs paid by the borrow.
Clyde is a real estate investor in Saint Marks, FL. He purchases a run-down property for a rehab project and obtains a bridge loan from Affluent Investment Company with the following terms:
a) A $270,000 sales price, b) a 75% loan-to-value (LTV), c) a 12 month term, d) a 14% interest rate, and e) a 5% origination fee.
Based on a $364,500 sales price after the 12 month term, the final numbers for this project would look like the following:
$364,500 sales price
- $202,500 loan principle (75% LTV)
- $67,500 down payment (25% on 75% LTV)
- $10,125 origination points (5% of the $202,500 principle amount)
- $28,350 interest payments (12 months x 14% interest)
-----------------------
= $56,025 total profit (does not include taxes or renovation 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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