With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Bridge Loans in Warwick, North Dakota
Warwick, ND has 18 hard money bridge lenders serving the city. The median note amount is $381,875. Rates for loans average 11.9%. The median length for loans is 22 months. The mean origination for the loans is 4.2 percent. 69% is the typical loan-to-value (LTV) for offered by lenders in Warwick.
Loan Example 1
Katharine closes on a $340,000 rehab project in Warwick, ND, using a bridge loan from J & T Investment Corporation. The loan to value (LTV) on the loan is 65%. This means that Katharine will need to bring 35% of the purchase price to the closing and the principle amount will be $221,000 on the loan. The parameters of the loan also stipulate a one percent origination fee that will be paid at the closing and a 6 month, interest-only note with a 11% rate of interest.
The borrower will have to fund a total of $32,400 upon closing to cover the $119,000 down payment in addition to the $2,210 origination fee. The lender will collect $2,026 in monthly interest from the borrower. This is computed by taking the full note amount of $221,000, multiplying by the 11% rate of interest, and then dividing that amount by 12. Katharine's intention is to complete the project within the 6 months and sell it for $493,000. If she succeeds she will collect a gross profit of $138,635 ($493,000 sales price - $221,000 principle amount - $119,000 cash paid at closing - $2,210 origination fee - $12,155 in total interest.
Loan Example 2
Ray is a real estate investor in Warwick, ND. He finds a run-down house for a rehab project and takes out a hard money bridge loan from Oak Hill Investment Corporation with the following features:
a) A $350,000 sales price, b) a 70% loan-to-value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 2% origination fee.
After the renovation project is complete, if Ray sells the property for $437,500, the final numbers would be the following:
$437,500 sales price
- $245,000 loan principle (70% LTV)
- $105,000 down payment (30% on 70% LTV)
- $4,900 origination fee (2% of the $245,000 principle amount)
- $29,400 total interest paid (18 months x 8% interest)
-----------------------
= $53,200 gross profit (does not include taxes or rehab costs)
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HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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Anchor Loans
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Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Patch Lending
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Secured Investment Lending
1485 International Parkway, Suite 1031
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Center Street Lending
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Rapid Commercial Loans
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
We lend to all different kinds of real estate investors, whether you are an expert or a novice. We provide funding for building from the ground up, fix-and-flip projects, and a range of single- and multi-family rental loans. Start your ...
New Silver
2475 Albany Ave #203B
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Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
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Gokapital Mortgage
2150 Coral Way | Suite 1A
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Lend Some Money
42 Thompson Street, Suite 1A
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Primeau Funding
10575 N. 114th St. Suite 103
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Edward Voccola & Co
75 Arlington Street, Suite 500
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11 Capital Finance
20 West Vine Street #575
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Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
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