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!
Fix and Flip Loans in Hockessin, Delaware
Hockessin, DE has 50 fix and flip lenders operating within the city. Note amounts average approximately $312,500. The median rate for private loans in Hockessin is 11.1%. The median note issued in the city is for 21 months. The average origination fee applied to the loans is 4.4%. The median LTV for loans in Hockessin is 72%.
Loan Example 1
Francisca takes a fix and flip loan from All American Lending Company in order to remodel a duplex to resale in Hockessin, DE. The sales price of the property is $260,000. The loan to value (LTV) on the loan is 50%. This means Francisca will bring 50% of the purchase price to closing and the principle amount will be $130,000 on the note. The interest rate on the note is 8% for a term of 18 months and the lender requires a four point origination fee at the closing. The interest payments are to be paid on a monthly basis and the principle will be returned after the property sells.
Accordingly, the borrower will have to make a $130,000 down payment in addition to paying a $5,200 origination fee. she will then pay $867 monthly to All American Lending Company. If Francisca accomplishes her goal of a $338,000 total sales price at the end of the loan term, she would earn a total profit of $57,200 after re-paying the principle and subtracting the cash she contributed at closing, the origination fee, and the monthly interest payments.
Loan Example 2
Yellow Sun Investment Group issues a hard money loan to Virgil for a rehab project in Hockessin, DE. The deal includes the following:
a) A $220,000 sales price, b) a 80% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 5% origination fee.
Based on a $297,000 sales price at the end of the 12 month term, the numbers for the project would look like this:
$297,000 sales price
- $176,000 principle on note (80% LTV)
- $44,000 down payment (20% on 80% LTV)
- $8,800 origination fee (5% of the $176,000 principle)
- $17,600 total interest paid (12 months x 10% interest)
-----------------------
= $50,600 gross profit (does not include taxes or renovation costs)
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.
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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