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Refinance / Cash Out Loans in Herndon, Kentucky
Herndon, KY has 32 hard money refi lenders offering loans within the city. In this city, the median amount for loans is $294,375. Interest rates on hard money loans made to Herndon investors average about 9.9%. The median loan made in the city has a term of 34 months. The average origination fee for loans is 3.1 points. The typical loan to value (LTV) offered for loans in Herndon is 73%.
Loan Example 1
Edgar operates a business in Herndon, KY. He runs his operations from a warehouse which he owns in full. He comes to an arrangement with his business partner to buy out their ownership of the enterprise but he doesn't have enough personal funds to do so. In order to make the deal move forward, he takes money from the equity he has in the building via a hard money cash-out refi loan from Prosper Funding Company. The lender performs a valuation analysis and decides the real estate is valued at $2,700,000. They will loan Edgar 60% of the estimated value (the LTV). They also agree to a 9% rate of interest, a 3 year term, and will charge an origination fee of 2 points at the close. Interest only payments will be paid monthly with the principle repaid when the loan expires. Edgar will receive $1,587,600 in cash from Prosper Funding Company when the transaction is executed ($2,700,000 estimated value x 60% LTV - $32,400 in origination points). He will then make monthly payments of $12,150 for the 3 year duration of the loan. He will then make one final payment of $1,620,000 to retire the debt.
Loan Example 2
Dustin operates a small business in Herndon, KY. He runs his operations from a commercial building that he owns outright. He comes to an agreement with his business partner to buy out their ownership of the operation but he does not have enough personal funds to do so. In order to make the deal happen, he takes cash from the equity he has in his property via a hard money cash-out refi loan through Assurance Investment Group. After determining the property to be worth approximately $800,000, they agree to a 65% loan-to-value (LTV) for the loan. The lender will deduct 4 origination points when the deal closes and then receive interest only payments at 12% for 2 years. The principle is to be re-paid in one balloon payment when the note matures. The principle amount is $520,000 but Assurance Investment Group will contribute Dustin $499,200 after charging the origination points of $20,800. They will also collect $5,200 in monthly interest until they are repaid when the note matures.
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels.
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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Anchor Loans
5230 Las Virgenes Rd, Suite 105
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701 W Broad Street, Suite 200
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201 East McBee Ave, Suite 300
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RCN Capital
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Visio Lending
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Dominion Financial
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New Silver
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Sunset Equity Funding
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Aero Capital Finance
439 W Vine St
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Sharestates
45 North Station Plaza
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Peak Choice Capital
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ICS Loans
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20 West Vine Street #575
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Bridge Well Capital
496 Delaney Ave #408
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Riverdale Funding
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