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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.
Goose Creek, SC has 50 fix and flip lenders in the city. Loan amounts average around $301,000. Rates for loans average 10.7%. The mean length offered for notes is 28 months. The mean origination fee applied to the loans is 3.0%. Lenders typically offer a 74% loan to value on loans in Goose Creek.
Harry is a house flipper in Goose Creek, SC. He finds a run-down property for sale and wants to remodel it and flip it for a profit. The house costs $340,000 but he does not have the full amount so he obtains a fix and flip loan with Brown Finance. The terms of the deal include a 55% loan to value (LTV), so he must bring 45% of the price as cash at closing, which makes the principle note amount $187,000. The deal also has these features: 1) a 12 month term, 2) a 11% interest-only note, and 3) a four percent origination charge.
In addition to paying the $7,480 origination fee, Harry will also fund $153,000 of the purchase with his own money, or 45% of the sales price. The monthly interest-only payments will then be $1,714 to the lender. If Harry accomplishes his goal of a $476,000 sales price when the loan term expires, he would earn a total profit of $107,950 after repaying the principle and deducting the money he contributed at closing, the origination points, and the total interest payments.
Alison takes a loan from South Side Investment Group in order to remodel a property to flip in Goose Creek, SC. The deal has the following terms:
$360,000 sales price
60% loan to value (LTV)
18 month term
11% interest rate
5% origination fee
Once the rehab project is finished, if Alison sells the project for $540,000, the numbers would be as follows:
$540,000 sales price
- $216,000 principle (60% LTV)
- $144,000 down payment (40% on 60% LTV)
- $10,800 origination points (5% of the $216,000 principle amount)
- $35,640 total interest paid (18 months x 11% interest)
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= $133,560 gross profit (doesn't include taxes or renovation costs)
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.
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!
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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House Max is an Austin, Texas-based hard money lender offering direct loans to real estate investors throughout the state of Texas.
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Sherman Bridge Lending is a hard money lender headquartered in Irving, TX.They current lend in the following states: AL, CA, CO, FL, GA, KS, KY, MD, MO, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WI and the District ...
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Pepe Berard Capital is hard money lender based in Rye Brook, NY. They provide loans in 12 states across the US. They provide private commercial loans, new construction loans, bridge loans, fix and flip hard money loans, ...
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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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