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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!
Nashua, NH has 50 fix and flip lenders offering loans in the city. Note amounts average approximately $328,334. Rates for loans average around 11.8%. The mean term offered for notes is 16 months. The average origination for loans is 2.4 percent. Lenders in Nashua average a 72% loan-to-value on their loans.
Stanley takes a fix-and-flip loan from Prime Time Finance Group in order to rehab a townhouse to flip in Nashua, NH. The price of the property is $360,000. As the lender sets a 80% loan to value, Stanley will have to put 20% down and the amount of the loan will be $288,000. The parameters of the loan also include a three percent origination fee that will be paid at the closing and a 12 month, interest-only note with a 8% rate of interest.
Stanley will have to bring $72,000 to the closing (20% on the 80% loan-to-value), plus he will pay the $8,640 origination fee. Once the deal closes, he will pay the lender $1,920 in monthly interest fees, or 8% multiplied times $288,000 divided by 12 months in the year. If Stanley sells the rehabed project for $486,000 at the end of the 12 month term, his gross profit (not including rehab costs) would be $94,320. This is calculated by taking the purchase price ($486,000) and subtracting the principle ($288,000), the origination cost ($8,640), the money he contributed to closing ($72,000), and the total interest payments ($23,040).
ABC Funding Corporation makes a fix and flip loan to Lorie for a rehab project in Nashua, NH. The loan includes the following:
a) A $270,000 sales price, b) a 75% loan-to-value (LTV), c) a 18 month term, d) a 9% interest rate, and e) a 4% origination fee.
Lorie plans to list the project when the note expires for $378,000. If she succeeds, the deal numbers will be the following:
$378,000 sales price
- $202,500 note principle (75% LTV)
- $67,500 down payment (25% on 75% LTV)
- $8,100 origination points (4% of the $202,500 principle amount)
- $27,338 interest payments (18 months x 9% interest)
-----------------------
= $72,563 gross profit (does not include taxes or renovation costs)
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!
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!
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