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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!
Baltimore, MD has 50 fix and flip hard money lenders in the city. In this city, the median note amount is $300,000. Interest rates for hard money loans average 11.3%. The median note issued in this city has a term of 45 months. The mean loan includes a 3.8 percent origination charge. Lenders typically offer a 75% LTV on deals in Baltimore.
Kenneth is an investor in Baltimore, MD. He finds an run-down property for sale in the Shipley Hill subdivision and decides to remodel it and resell it for a profit. The house has a cost of $300,000 but he doesn't have the full amount so he takes out a hard money loan with Deep Lake Lending Company. The lender agrees to make a loan with a 60% loan-to-value (LTV) so they will extend $180,000 on the project. The loan also consists of the following features: 1) a 12 month term, 2) a 10% interest-only note, and 3) a three point origination charge.
In accordance with the parameters of the loan, Kenneth will need to pay a $5,400 origination fee plus 40% of the sales price, or $120,000, based on the 60% LTV. Deep Lake Lending Company will collect $1,500 in monthly interest payments from the borrower. This is computed by taking the full loan amount of $180,000, multiplying that by the 10% rate of interest, and then dividing that number by 12. At the expiration of the loan, he sells the rehabed house for $390,000. After deducting the $18,000 in total interest payments ($1,500 multiplied by 12 months), the $5,400 origination fee, the $180,000 principle on the loan, and the $120,000 he contributed to closing, he will earn a total profit of $66,600 ($390,000 sales price minus $323,400 in total costs). This profit would then be reduced by any rehab costs paid by the borrow.
Tommy finds a property in the Locust Point Industrial Area area of Baltimore, MD to remodel and sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Pretty Perfect Funding Company with the following parameters:
$290,000 purchase price
75% loan to value (LTV)
12 month term
10% rate of interest
1% origination fee
Assuming a $348,000 sales price at the end of the 12 month term, the outcome for the project would look like the following:
$348,000 sales price
- $217,500 principle (75% LTV)
- $72,500 cash paid at closing (25% on 75% LTV)
- $2,175 origination fee (1% of the $217,500 principle amount)
- $21,750 total interest paid (12 months x 10% interest)
-----------------------
= $34,075 total profit (doesn't include taxes or rehab costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
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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Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 46 states throughout the US. They provide short-term and long-term fix and flip loans, loans for rental properties, bridge loans, and ground-up new construction loans ...
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Since its inception in 2011, Lima One Capital has funded over $9 billion in loans for real estate investors who are building, improving, and stabilizing neighborhoods across the nation. Lima One’s core loan products are New Construction loans for ground-up ...
Headquartered in South Windsor, CT, RCN Capital is national, direct, private lender providing funding in 44 states across the country.Established in 2010, we provide short-term and long-term commercial loans ranging from $50k to $2.5M+ for the purchase of non-owner occupied ...
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Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
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Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including ...
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Bluewater Funding is an asset-based lender in Rockville, MD providing funding throughout Washington DC. They provide lending solutions for many different needs and situations, including commercial loans, fix and flip hard money loans, hard money refinancing, and short ...
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Great Jones Capital is hard money lender headquartered in Washington DC. They provide loans throughout Washington DC, Maryland, and Virginia. They offer loans for a variety of scenarios, including fix and flip hard money loans, private ...
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...
Asset Based Lending LLC is a Hoboken, NJ based hard money lender who offers funding in 9 states across the US. They offer loans for a variety of scenarios, including new construction loans, hard money refinancing, loans for investments ...
Based in Falls Church, VA, Washington Capital Partners is a direct hard money lender providing loans in Washington DC, Maryland, Virginia, Pennsylvania, North Carolina, and beyond. They offer lending solutions for a variety of investing strategies, including fix and flip ...
LYNK Capital is a fast-growing private lender offering residential renovation, construction, and rental loans. Our team has decades of construction lending experience and we're here to help you through every stage of your project.We lend in: AL, CT, DC, DE, ...
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LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
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Adler Private Lending is a hard money lender based in Fairfax, VA offering loans throughout Washington DC, Maryland, and Virginia. They provide loans for many different scenarios, including bridge loans, cash out hard money loans, private commercial loans, ...
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, ...
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Based in Aon, CT, Capital Three Sixty is an asset-based lender providing loans in 15 states across the United States. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, loans for investments ...
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