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!
Bridge Loans in West Dummerston, Vermont
A total of 26 records for private money bridge lenders were found in West Dummerston, VT. The mean note made to borrowers is around $346,429. The mean interest rate for loans in West Dummerston is 10.3%. The mean term offered for loans is 23 months. The average origination for the loans is 2.3 points. The median loan to value offered for loans in West Dummerston is 69%.
Loan Example 1
Justine is a real estate investor in West Dummerston, VT. She finds a run-down property and decides to renovate it and sell it for a profit. The house has a cost of $160,000 but she does not have the full amount so she takes out a hard money bridge loan with North Star Investment Group. As the lender agrees to a 85% loan-to-value, Justine will be required to put 15% down and the amount of the note will be $136,000. The parameters of the note also include a four point origination fee that is to be paid at the closing and a 6 month, interest-only note with a 11% rate of interest.
On top of the $5,440 origination fee, Justine will also have to fund $24,000 of the purchase with her own cash, or 15% of the purchase price. North Star Investment Group will collect $1,247 in monthly interest payments from the Justine. This is calculated by taking the total note value of $136,000, multiplying by the 11% rate of interest, and then dividing that number by 12. Assuming she sells the renovated project for $240,000 at the end of the 6 month term, her total profit (not accounting for renovation costs) would be $67,080. This is calculated by taking the purchase price ($240,000) and subtracting the original principle ($136,000), the origination fee ($5,440), the money she brought to closing ($24,000), and the total interest payments ($7,480).
Loan Example 2
Isabelle is a real estate investor in West Dummerston, VT. She locates a run-down house for a remodeling project and obtains a hard money bridge loan from Frontera Finance Corporation with the following paramters:
$330,000 purchase price
80% loan-to-value (LTV)
12 month term
11% interest rate
4% origination fee
If Isabelle achieves her goal of a $495,000 sales price, the outcome of the deal would be the following:
$495,000 sales price
- $264,000 note principle (80% LTV)
- $66,000 down payment (20% on 80% LTV)
- $10,560 origination points (4% of the $264,000 principle amount)
- $29,040 interest payments (12 months x 11% interest)
-----------------------
= $125,400 gross profit (doesn't 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!
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Cherrywood Commercial
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Primeau Funding
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Wallace Capital
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