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.
Fix and Flip Loans in Springfield, Vermont
Springfield, VT has 30 fix-and-flip lenders operating within the city. The average loan amount is $346,667. The average interest rate for loans in Springfield is 11.0%. The median loan made in this city has a term of 22 months. The mean origination fee added to the loans is 2.5%. The typical loan-to-value for loans in Springfield is 74%.
Loan Example 1
Melissa is a house flipper in Springfield, VT. She locates an older property for sale and decides to rehab it and flip it for a profit. The property has a cost of $370,000 but she does not have the full amount so she takes out a hard money loan with Reliance Finance Group. The borrower will be required to contribute 30% of the sales price in cash to the closing based on a 70% loan to value stipulated by the lending company. This makes the principle amount from Reliance Finance Group $259,000. The terms of the note also include a two percent origination fee which is to be paid at the closing and a 18 month, interest only note with a 10% interest rate.
Therefore, the borrower will be required to make a $111,000 down payment in addition to paying a $5,180 origination fee. Once the deal is executed and Melissa takes on the property, she will begin making payments each month of $2,158 to Reliance Finance Group ($259,000 principle x 10% / 12 months). If Melissa achieves her goal of a $536,500 total sales price at the end of the loan term, she would pocket a gross profit of $122,470 after re-paying the principle amount and subtracting the money she brought to closing, the origination points, and the total interest payments.
Loan Example 2
Theresa takes out a hard money loan from Assurance Funding Corporation so she can rehab a property to re-sell in Springfield, VT. 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 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!
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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Stratton Equities
28 Bloomfield Avenue
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Next-Financing
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Stormfield Capital
35 Old Post Road
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Dominion Financial
32 S Street
Baltimore, MD 21202
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Global Integrity Finance
321 N Central Expressway, Suite 360
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15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
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 ...
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1485 International Parkway, Suite 1031
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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National Advance Group
1 Linden Place
Great Neck, NY 11021
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Sunset Equity Funding
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Peak Choice Capital
601 Silver Creek Drive
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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Roc Capital
645 Madison Ave
New York City, NY 10022
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ABC Capital Investments
1218 N. Marshall Street
Philadelphia, PA 19122
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Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
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Aegis Funding
2100 Main Street, suite 265
Huntington Beach, CA 92648
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Quickline Capital Partners
4713 Crossroads Park Drive Suite 101
Liverpool, NY 13088
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9465 Counselors Way, Suite 200
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Allied Commercial Funding
5737 Kanan Rd
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8431 Liberty Avenue
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Green Knight Funding
600 Loring Avenue, Suite 5
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Wallace Capital
132 Lincoln Street, Suite 6L
Boston, MA 02111
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