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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.
Topeka, KS has 50 fix and flip lenders issuing loans in the city. Note amounts average around $302,188. The mean rate for loans in Topeka is 10.7%. The average loan made in this city has a term of 12 months. The mean origination for loans is 3.8 percent. Lenders typically offer a 74% loan-to-value on hard money loans in Topeka.
Dale takes a hard money loan from Acme Investment Group in order to renovate a townhouse to flip in Topeka, KS. The price of the property is $360,000. Since the lender agrees to a 50% loan-to-value, Dale will need to put 50% down and the amount of the note will be $180,000. The parameters of the loan dictate a 8% note for 6 months. They also stipulate a 2 point origination fee, that will also be paid upon closing.
Dale must fund a total of $32,400 up front to pay the $180,000 down payment in addition to the $3,600 origination fee. she must then pay $1,200 monthly to Acme Investment Group. If Dale sells the project for $486,000 after 6 months, she would then realize a total profit of $115,200 after deducting the principle amount of $180,000, the money paid at closing of $180,000, the origination fee of $3,600, and the aggregate interest payments of $7,200. This profit does not account for renovation costs.
Flora takes out a fix and flip loan from J & T Lending Company so she can renovate a house to resell in Topeka, KS. The deal has the following parameters:
a) A $360,000 purchase price, b) a 75% loan to value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 4% origination fee.
After the rehab project is finished, if Flora sells the house for $468,000, the final numbers would be as follows:
$468,000 sales price
- $270,000 principle on note (75% LTV)
- $90,000 cash paid at closing (25% on 75% LTV)
- $10,800 origination points (4% of the $270,000 principle)
- $52,650 total interest paid (18 months x 13% interest)
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= $44,550 total profit (doesn't include taxes or renovation costs)
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.
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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Sherman Bridge Lending is a hard money lender headquartered in Irving, TX.They current lend in the following states: AL, CA, CO, FL, GA, KS, KY, MD, MO, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WI and the District ...
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 ...
Based in Greenwood Village, CO, Merchants Mortgage & Trust Corporation is a private lender providing loans in 9 states throughout the U.S. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial ...
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Aegis Funding is hard money lender based in Huntington Beach, CA. They provide loans throughout California. They offer lending solutions for a variety of needs and situations, including fix and flip loans and long term rental property loans. They issue ...
Quickline Capital Partners is a Syracuse, NY based private lender providing loans across the US. They offer loans for a variety of scenarios, including fix and flip loans and commercial hard money loans. Their lending parameters are flexible, including terms ...
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