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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.
Highland Park, IL has 50 fix-and-flip lenders operating in the city. The mean note amount is $319,643. Rates for hard money loans average 10.2%. The mean length for loans is 25 months. The mean origination fee charged for the loans is 3.5%. Lenders in Highland Park average a 75% loan-to-value on their loans.
Beatriz is an investor in Highland Park, IL. She locates an older property for sale and decides to renovate it and sell it for a profit. The house costs $210,000 but she does not have the full amount so she obtains a hard money loan with XYZ Lending Company. The borrower will have to fund 15% of the sales price in cash to the closing based on a 85% loan to value stipulated by the lending company. This makes the principle note from XYZ Lending Company $178,500. The loan also includes these features: 1) a 18 month length, 2) a 11% interest-only note, and 3) a three point origination fee.
In accordance with the terms of the note, Beatriz will need to pay a $5,355 origination fee in addition to 15% of the sales price, or $31,500, since there is a 85% LTV. After the loan is closed and Beatriz takes over the property, she will have to begin making payments each month of $1,636 to the lender ($178,500 principle x 11% / 12 months). If Beatriz meets her goal of a $273,000 sales price when the loan term expires, she would earn a total profit of $28,193 after repaying the principle amount and deducting the money she paid at closing, the origination fee, and the monthly interest payments.
Theresa takes out a hard money loan from Assurance Funding Corporation so she can rehab a property to re-sell in Highland Park, IL. The deal has the following parameters:
a) A $260,000 purchase price, b) a 65% loan-to-value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 2% origination fee.
After the rehab project is finished, if Theresa sells the project for $377,000, the numbers would be the following:
$377,000 sales price
- $169,000 loan principle (65% LTV)
- $91,000 down payment (35% on 65% LTV)
- $3,380 origination points (2% of the $169,000 principle amount)
- $32,955 total interest paid (18 months x 13% interest)
-----------------------
= $80,665 gross profit (doesn't include taxes or rehab 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.
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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Based in South Holland, IL, FBC Funding is an asset-based lender offering loans throughout Chicago. They offer bridge loans, private refinancing, hard money construction loans, fix-and-flip hard money loans, commercial hard money loans, and rental property loans. ...
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Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
With more than $20B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors (REIs). Kiavi harnesses the power of data & technology to offer REIs a simpler, more reliable, and faster way ...
Next-Financing is based in Scottsdale, Arizona and has a satellite office in Silicon Valley, California. They offer a wide array of financing options for businesses, including fix and flip loans and loans for rental properties. They lend on ...
Jcap is a Newport Beach, CA based direct lender who closes and services investor funded short-term real estate loans. They provide loans in 43 states. They offer private refinancing, fix-and-flip hard money loans, investment property loans and more. Their loan ...
Based in Rockville, MD, ACC Mortgage is a hard money lender offering loans in 16 states across the country. They offer fix and flip loans, commercial loans, private refinancing, and buy and hold loans. Their loan parameters ...
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Do Hard Money is a hard money lender based in West Jordan, UT providing funding in 13 states throughout the United States. Their lending focus is primarily on fix-and-flip hard money loans. Their lending guidelines are flexible, including ...
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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 ...
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 ...
New Silver is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get ...
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 ...
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
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. ...
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, ...
Straightline Funding is direct hard money lender that provides loans in many larger metro areas throughout the US. We specialize in 1-4 family loans for investors. Our loan menu consists of:R2R (Residential For Rent): 30 Year fixed rate loans for ...
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Gelt Financial LLC was founded in 1989 to help both borrowers and brokers finance their real estate. With loan amounts from $100K-$5M on vacant, non-owner occupied, and owner-occupied properties, Gelt Financial funds both purchases and refinances. Additionally, Gelt provides creative ...
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Turning Point Capital is a private money lender headquartered in Downers Grove, IL offering loans in Chicago. They provide rental property loans, bridge loans, short term fix and flip loans, refinancing, and commercial hard money loans. They ...
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