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With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Crozier, VA has 50 fix-and-flip hard money lenders issuing loans in the city. The median note amount in this city is $315,500. Rates on loans made to Crozier borrowers average 10.1%. 15 months is the median length for notes issued in this city. The mean origination percentage added to loans is 3.0%. Lenders typically offer a 75% loan to value (LTV) on loans in Crozier.
Dimension Funding Group issues a private money loan to Julio for a remodeling project in Crozier, VA, on a property that costs $340,000. The loan-to-value (LTV) on the note is 80%. This means that Julio will have to bring 20% of the purchase price to the closing and the principle will be $272,000 on the loan. The terms of the loan dictate a 14% note for 12 months. They also require a 2 point origination fee, that will also be paid at closing.
Therefore, Julio will need to contribute a $68,000 down payment plus pay a $5,440 origination fee. The monthly interest only payments will then total $3,173 to Dimension Funding Group. If Julio achieves his goal of a $425,000 sales price when the loan term expires, he would pocket a total profit of $41,480 after repaying the principle and subtracting the money he brought to closing, the origination points, and the total interest payments.
Pat locates a property in Crozier, VA to remodel and re-sell. Since she does not have enough cash to buy the property outright, she takes a fix and flip loan from Axis Finance Group with the following parameters:
a) A $280,000 purchase price, b) a 85% loan-to-value (LTV), c) a 6 month term, d) a 12% interest rate, and e) a 1% origination fee.
After the rehab project is finished, if Pat sells the property for $350,000, the final numbers would be as follows:
$350,000 sales price
- $238,000 note principle (85% LTV)
- $42,000 down payment (15% on 85% LTV)
- $2,380 origination points (1% of the $238,000 principle amount)
- $14,280 total interest paid (6 months x 12% interest)
-----------------------
= $53,340 total profit (does not include taxes or rehab costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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!
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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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, ...
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