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 Townshend, Vermont
West Townshend, VT has 27 hard money bridge lenders in the city. The mean note amount is $350,000. Rates for private loans average about 10.3%. 23 months is the mean length for loans made in this city. A typical loan made in this city carries a 2.5 point origination fee. Lenders in West Townshend average a 71% loan to value on their deals.
Loan Example 1
Jeannine takes a private money bridge loan from Red City Lending Corporation in order to renovate a duplex to resale in West Townshend, VT. The price of the property is $210,000. The borrower will have to bring 50% of the purchase price in cash to the closing based on a 50% loan-to-value stipulated by the lender. This makes the loan principle from Red City Lending Corporation $105,000. The parameters of the note also stipulate a one percent origination fee which will be paid at the closing and a 6 month, interest-only note with a 9% interest rate.
The borrower will have to contribute a total of $32,400 up front to cover the $105,000 down payment plus the $1,050 origination fee. The monthly interest only payments will then total $788 to the lender. If Jeannine sells the house for $252,000 after 6 months, she would earn a gross profit of $36,225 after deducting the principle amount of $105,000, the funds contributed at the close of $105,000, the origination fee of $1,050, and the aggregate interest payments of $4,725. This amount doesn't include rehab costs.
Loan Example 2
North Star Funding issues a bridge loan to Earl for a remodeling project in West Townshend, VT. The loan includes the following:
$150,000 sales price
70% loan to value (LTV)
12 month term
13% interest rate
2% origination fee
If Earl achieves his goal of a $217,500 sales price, the numbers of the project will be the following:
$217,500 sales price
- $105,000 principle (70% LTV)
- $45,000 cash paid at closing (30% on 70% LTV)
- $2,100 origination points (2% of the $105,000 principle)
- $13,650 interest payments (12 months x 13% interest)
-----------------------
= $51,750 total profit (does not 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!
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!
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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Stratton Equities
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Stormfield Capital
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Patch Lending
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T&M Commercial Funding
259 Minot Ave
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Center Street Lending
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Peak Choice Capital
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Sunset Equity Funding
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Rapid Commercial Loans
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Cherrywood Commercial
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Flip N Fast Loans
4445 Corporation Ln Suite 264
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New Silver
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Roc Capital
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Lend Some Money
42 Thompson Street, Suite 1A
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Primeau Funding
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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
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Allied Commercial Funding
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Green Knight Funding
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Wallace Capital
132 Lincoln Street, Suite 6L
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