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Willow, AK has 27 hard money bridge lenders serving the city. The average amount loaned in the city is $287,500. Interest rates for hard money loans average 11.2%. 20 months is the average term for loans made in this city. The mean origination fee for the loans is 2.6 points. Lenders typically offer a 73% LTV on loans in Willow.
Blue Door Lending Company makes a hard money bridge loan to Anne for a remodeling project in Willow, AK, on a property that is listed for $260,000. The borrower will have to contribute 15% of the purchase price in cash to closing based on a 85% loan-to-value set by the lender. This makes the principle amount from Blue Door Lending Company $221,000. The deal also has these features: 1) a 6 month length, 2) a 8% interest-only note, and 3) a one percent origination fee.
By the terms of the loan, Anne will have to contribute a $2,210 origination fee plus 15% of the purchase price, or $39,000, based on the 85% LTV. she will then pay $1,473 monthly to the lender. If Anne sells the property for $390,000 after 6 months, she would realize a total profit of $118,950 after subtracting the principle amount of $221,000, the cash contributed at the close of $39,000, the origination fee of $2,210, and the total interest payments of $8,840. This amount does not account for remodeling costs.
Chester locates a duplex in Willow, AK to remodel and sell. Since he does not have enough cash to buy the property outright, he takes a hard money bridge loan from Acme Investment Group with the following parameters:
$260,000 sales price
60% loan-to-value (LTV)
6 month term
11% interest rate
5% origination fee
After the renovation project is complete, if Chester sells the property for $325,000, the numbers would be as follows:
$325,000 sales price
- $156,000 note principle (60% LTV)
- $104,000 down payment (40% on 60% LTV)
- $7,800 origination points (5% of the $156,000 principle amount)
- $8,580 total interest paid (6 months x 11% interest)
-----------------------
= $48,620 total profit (doesn't include taxes or rehab costs)
7550 Wisconsin Ave. 10th Floor
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111 Potrero Avenue
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5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
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6380 Wilshire Blvd #1610
Los Angeles, CA 90048
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259 Minot Ave
Auburn, ME 04210
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34 South Broadway, Suite 204
White Plains, NY 10601
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201 Sand Creek Rd # K
Brentwood, CA 94513
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45 North Station Plaza
Great Neck, NY 11021
Sharestates is a private, hard money lender in 46 states across the US. We offer financing solutions for a variety of needs and situations, including hard money loans for commercial properties, residential fix and flips, ground up construction, and long ...
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan parameters are flexible, ...
1515 Hancock Street, Suite 404
Quincy, MA 02169
Grand Coast Capital Group is a Quincy, MA based private lending and investment firm that provides creative financing solutions to local real estate investors, operators, and developers across the country.We offer loans for a variety of situations, including commercial loans, ...
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Miami, FL 33137
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28 Bloomfield Avenue
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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2475 Albany Ave #203B
West Hartford, CT 06117
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5660 Strand Court
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2150 Coral Way | Suite 1A
Miami, FL 33145
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42 Thompson Street, Suite 1A
East Haven, CT 06513
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10575 N. 114th St. Suite 103
Scottsale, AZ 85259
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
75 Arlington Street, Suite 500
Boston, MA 02116
Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...
20 West Vine Street #575
Lansdale, PA 19446
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. ...
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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207 Mockingbird Ln, #402
Johnson City, TN 37604
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5737 Kanan Rd
Agoura Hills, CA 91301
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