Alabama Refinance / Cash Out Loans
Alabama has 26 private money refinance lenders offering loans in the state. In this state, the median amount loaned is $296,046. Rates for loans average around 10.3%. The average loan issued in the state has a term of 36 months. The mean origination fee for the loans is 3.1 percent. Lenders in Alabama average a 72% loan-to-value (LTV) on their loans.
Loan Example 1
Shari owns a a warehouse she uses for her business operations in Gadsden, AL. So she can generate much needed funds to expand her business, she takes out a portion of the equity in her building via a private money cash out refinance from Oak Hill Lending. The lender does a market value comparison and determines the property is valued at $1,900,000. They decide to loan Shari 55% of this estimated value (the LTV). The lender will subtract 5 origination points at the closing and will then be paid interest only payments at 13% for 2 years. The principle is to be re-paid in a single balloon sum when the loan matures. Based upon the rules of the loan scenario, Oak Hill Lending will loan Shari a sum of $992,750 on her building ($1,900,000 estimated value x 55% loan to value - $52,250 in origination fees). Shari will then pay $11,321 per month in interest fees until the loan expires and will finally repay the $1,045,000 face amount of the loan.
Loan Example 2
Rodney owns and operates a small business in Gadsden, AL. He runs his operations from an industrial building that he owns in full. He makes an agreement with his business partner to buy out their share of the enterprise but he doesn't have the personal cash to do so. To make the deal happen, he takes money from the equity he has in the property through a private money cash out refinancing from North Side Finance Company. In exchange for a first lien on the property, the lender will loan Rodney 65% of its $600,000 value. The lender will deduct 1 origination points at the close and will then receive interest only payments at 10% for 3 years. The principle is to be re-paid in one balloon payment when the loan expires. The principle will be $390,000 but North Side Finance Company will front Rodney $386,100 after subtracting the origination fee of $3,900. Additionally, they will receive $3,250 in monthly interest until they are paid off when the loan expires.
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Funding Fix & Flip, Ground-Up Construction, and DSCR loans in 35 States. We're the lender for real estate entrepreneurs looking for fast funding, fair pricing, and amazing service.
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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701 W Broad Street, Suite 200
Bethlehem, PA 18018
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JCAP Private Lending
3151 Airway Ave, Suite Q3
Newport Beach, CA 92626
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Atlanta, GA 30309
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75 Gerber Road East
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201 East McBee Ave, Suite 300
Greenville, SC 29601
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Dominion Financial
32 S Street
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New Silver
2475 Albany Ave #203B
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Straightline Funding
250 N. Trade Street, Suite 209
Matthews, NC 28105
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1485 International Parkway, Suite 1031
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34 South Broadway, Suite 204
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Gelt Financial
6401 Congress Ave, Suite 215
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Sharestates
45 North Station Plaza
Great Neck, NY 11021
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6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
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1010 NE 2nd Ave
Miami Beach, FL 33132
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496 Delaney Ave #408
Orlando, FL 32801
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1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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Indianapolis, IN 46240
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1995 North Park Place SE, Suite 415
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Baker Collins & Co.
260 Peachtree St, Suite 1002
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