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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!
There are 50 fix and flip lenders operating in Queensbury, NY. The mean note amount is $283,929. The mean interest rate for private loans in Queensbury is 11.0%. The median length for loans is 18 months. The mean origination for loans is 3.0 percent. Lenders in Queensbury average a 69% loan-to-value (LTV) on their deals.
Marjorie takes a private money loan from East Side Finance Corporation in order to rehab a townhome to flip in the Glens Falls North neighborhood of Queensbury, NY. The sales price of the house is $360,000. The borrower will be required to bring 35% of the purchase price in cash to the closing based on a 65% loan to value stipulated by the lending company. This makes the principle amount from East Side Finance Corporation $234,000. The terms of the loan dictate a 8% note for 18 months. They also stipulate a 5 point origination fee, that will also need to be paid upon closing.
By the parameters of the deal, Marjorie will be required to pay a $11,700 origination fee plus 35% of the purchase price, or $126,000, since there is a 65% LTV. After the deal closes, she will pay the lender $1,560 in monthly interest fees, or 8% multiplied by $234,000 divided by 12 months in the year. If Marjorie sells the remodeled house for $468,000 at the end of the 18 month term, her total profit (not including remodeling expenses) would be $68,220. This is computed by taking the purchase price ($468,000) and subtracting the original note amount ($234,000), the origination cost ($11,700), the funds she brought to closing ($126,000), and the total interest expenses ($28,080).
Estela is a real estate investor in the Glens Falls North area of Queensbury, NY. She purchases a run-down property for a renovation project and obtains a hard money loan from Oak Hill Finance Company with the following features:
a) A $240,000 purchase price, b) a 85% loan-to-value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 4% origination fee.
Assuming a $336,000 sales price after the 12 month term, the outcome for the project would look like this:
$336,000 sales price
- $204,000 principle on note (85% LTV)
- $36,000 cash paid at closing (15% on 85% LTV)
- $8,160 origination fee (4% of the $204,000 principle amount)
- $16,320 interest payments (12 months x 8% interest)
-----------------------
= $71,520 total profit (does not include taxes or renovation costs)
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!
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!
Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 46 states throughout the US. They provide short-term and long-term fix and flip loans, loans for rental properties, bridge loans, and ground-up new construction loans ...
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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 ...
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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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Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
Navesink River Capital is an asset-based lender in Freehold, NJ providing funding throughout New Jersey and New York. They provide lending solutions for a variety of scenarios, including short term loans, fix and flip loans, and commercial hard ...
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
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 ...
Express Hard Money is private money lender headquartered in Jersey City, NJ. They provide funding in New York, New Jersey, and Connecticut. Their lending focus is mainly on fix and flip hard money loans. ...
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(212) 634-7899 - Loan Fundr a premier Nationwide asset-based lender using technology to close loans fast. We think creatively, providing fair and transparent loans that get our clients what they need.
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Headquartered in Syracuse, NY, Neal Business Funding provides world-class funding for real estate investors in 47 states across the country. Our loans range from $50K to $5M and are intended for Non-Owner Occupied residential and commercial properties. We can provide ...
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Sachem Capital is a Branford, CT based hard money lender. They provide loans throughout New York, New Jersey, and Connecticut. They offer commercial loans, fix and flip loans, investment property loans, and bridge loans. They ...
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Based in Aon, CT, Capital Three Sixty is an asset-based lender providing loans in 15 states across the United States. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, loans for investments ...
Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan parameters are flexible, ...
NSB Financing is a Miami, FL based hard money lender. They offer loans in 10 states throughout the United States. They offer loans for many different situations and needs, including commercial hard money loans, hard money construction loans, ...
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Rehab Financial Group is hard money lender based in Rosemont, PA. They offer loans in 15 states across the US. They offer lending solutions for a variety of scenarios, including fix and flip loans, short term loans, ...
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Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
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