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With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Williston, ND has 20 private money lenders operating in the city. The average loan amount in the city is $405,682. Rates for hard money loans average around 10.5%. 36 months is the average length for loans offered in this city. The average hard money loan issued in the city includes a 4.4 point origination fee. 71% is the average LTV offered for for loans in Williston.
Elmer owns a business in Williston, ND. He runs his operations out of a retail space which he owns outright. He determines he needs cash for his business operations but he is turned down by his credit union for a cash out refi loan, so he goes to Green Fern Finance Corporation for a private money refinance. After determining the building to be worth about $1,100,000, the lender agrees to a 50% loan to value (LTV) on the deal. The lender will begin to collect interest only payments for a 1 year period. They will also be paid 4 points when the loan closes and will have the principle re-paid in a single balloon payment when the note matures. The loan principle will be $550,000 but Green Fern Finance Corporation will contribute Elmer $528,000 after deducting the origination fees of $22,000. They will also collect $4,583 in monthly interest until they are re-paid when the note expires.
Patrick owns and operates a small business in Williston, ND. He runs his operations out of a commercial building that he owns outright. He turns to Big Lake Investment Group for a cash out refinancing after he is refused a loan by his bank to pay for his business's current operational needs. The lender performs a market comparison and estimates the building to be worth about $1,100,000. They agree to loan Patrick 55% of the estimated value (the LTV). The additional terms of the deal are the following : 1) a 14% rate of interest, 2) a 2 year length with interest only payments paid each month, and 3) 5 points charged at the close. Based upon the rules of this loan, Big Lake Investment Group will give Patrick a total of $574,750 on his building ($1,100,000 estimated value x 55% loan-to-value - $30,250 in origination points). Patrick will pay $7,058 monthly in interest fees until the loan expires and will finally return the $605,000 face amount of the loan.
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!
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