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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.
Edwardsville, IL has 50 fix and flip hard money lenders offering loans within the city. The median amount for loans in the city is $291,563. Interest rates for loans average about 10.7%. 20 months is the median term for loans issued in the city. The average origination for the loans is 3.8 percent. Lenders offer on average a 76% loan-to-value (LTV) on deals in Edwardsville.
Christie is a real estate investor in Edwardsville, IL. She finds an older property and wants to remodel it and flip it for a profit. The property costs $360,000 but she does not have the full amount so she obtains a private money loan with Blue Mountain Lending. The terms of the note include a 60% loan to value (LTV), so she must contribute 40% of the price as cash to closing, making the principle loan amount $216,000. The deal also has the following features: 1) a 18 month length, 2) a 10% interest-only note, and 3) a five point origination charge.
The borrower must fund a total of $32,400 upon closing to cover the $144,000 down payment plus the $10,800 origination fee. Blue Mountain Lending will collect $1,800 in monthly interest payments from the Christie. This is computed by taking the total note value of $216,000, multiplying that by the 10% rate of interest, and then dividing that number by 12. If Christie sells the property for $504,000 after 18 months, she would then make a total profit of $100,800 after subtracting the principle amount of $216,000, the money paid at closing of $144,000, the origination points of $10,800, and the total interest payments of $32,400. This gross profit does not include rehab costs.
Allstar Finance Corporation makes a private money loan to Dustin for a remodeling project in Edwardsville, IL. The deal includes the following:
a) A $240,000 purchase price, b) a 60% loan to value (LTV), c) a 18 month term, d) a 12% interest rate, and e) a 2% origination fee.
If Dustin accomplishes his goal of a $288,000 sales price, the final numbers of the deal will be the following:
$288,000 sales price
- $144,000 principle on note (60% LTV)
- $96,000 down payment (40% on 60% LTV)
- $2,880 origination points (2% of the $144,000 principle amount)
- $25,920 interest payments (18 months x 12% interest)
-----------------------
= $19,200 gross profit (doesn't include taxes or renovation costs)
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!
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!
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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 ...
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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 ...
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