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.
Refinance / Cash Out Loans in Hobart, Indiana
Hobart, IN has 37 private money lenders serving the city. The average note made to borrowers is approximately $298,334. Interest rates for hard money loans average 10.5%. The typical term for notes is 24 months. The mean origination fee added to the loans is 3.2%. 73% is the median loan to value (LTV) for for loans in Hobart.
Loan Example 1
Dee owns a an industrial building for her company's operations in Hobart, IN. She determines she needs some cash for her company's operation but she's turned down by her credit union for a cash out refinance, so she goes to Big Money Investment Company for a private money refi. After concluding the building to be valued at approximately $2,500,000, the lender contracts to a 60% loan to value (LTV) for the transaction. The other specifications of the loan are as follows : 1) a 12% rate of interest, 2) a 4 year term with interest only payments made each month, and 3) 2 points charged at closing. Dee will receive $1,470,000 in cash from Big Money Investment Company when the deal closes ($2,500,000 estimated market value x 60% loan-to-value - $30,000 in origination charges). She will then make payments each month of $15,000 for the 4 year length of the note. She will then make a final balloon payment of $1,500,000 to retire the debt.
Loan Example 2
Julian owns a a retail space for his business's operations in Hobart, IN. He decides he needs cash for his business's operations but is denied by his local bank for a cash out refinance loan, so he goes to Big City Investments for a private money loan. The lender performs a market analysis and decides the property is worth about $1,000,000. They agree to loan Julian 50% of this market value (the LTV). The lender will deduct 4 origination points at closing and will then collect interest only payments at 11% for 5 years. The principle will be paid off in a single balloon payment when the note expires. The loan principle is $500,000 but Big City Investments will front Julian $480,000 after charging the origination fee of $20,000. They will also receive $4,583 in monthly interest until they are paid back when the note matures.
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.
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