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!
Fix and Flip Loans in Milton, Vermont
There are 30 records for fix-and-flip hard money lenders operating in Milton, VT. The average amount for loans in this city is $295,357. Interest rates on loans made to Milton borrowers average around 10.7%. The median length for loans is 27 months. The mean origination fee added to the loans is 3.2%. Lenders typically offer a 75% loan to value (LTV) on hard money loans in Milton.
Loan Example 1
Gail finds a house in Milton, VT to renovate and sell. Since she doesn't have enough cash available to purchase the $290,000 project outright, she decides to take out a private money loan from South Side Funding Corporation. The lender agrees to write a note with a 50% loan to value (LTV) so they will loan $145,000 on the house. The terms of the loan also stipulate a four percent origination fee that will be paid at closing and a 12 month, interest-only note with a 14% rate of interest.
On top of the $5,800 origination fee, Gail will also fund $145,000 of the purchase with her own money, or 50% of the sales price. Once the loan closes, she will need to pay the lender $1,692 in monthly interest fees, or 14% times $145,000 divided by 12 months in a year. Gail's plan is to finish the house by the end of the 12 months and sell it for $420,500. If she succeeds she will earn a total profit of $104,400 ($420,500 price - $145,000 principle - $145,000 funds brough to closing - $5,800 origination fee - $20,300 in total interest payments.
Loan Example 2
Johnnie finds a duplex in Milton, VT to remodel and sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from East Side Finance Company with the following parameters:
a) A $300,000 purchase price, b) a 55% loan-to-value (LTV), c) a 12 month term, d) a 14% interest rate, and e) a 4% origination fee.
Based on a $360,000 sales price after the 12 month term, the outcome for the deal would look like the following:
$360,000 sales price
- $165,000 principle (55% LTV)
- $135,000 cash paid at closing (45% on 55% LTV)
- $6,600 origination points (4% of the $165,000 principle)
- $23,100 total interest paid (12 months x 14% interest)
-----------------------
= $30,300 gross profit (doesn't 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!
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.
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Stratton Equities
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Pine Brook, NJ 07058
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Atlanta, GA 30309
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Stormfield Capital
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Dominion Financial
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Global Integrity Finance
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Patch Lending
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1485 International Parkway, Suite 1031
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500 West 2nd Suite 1900
Austin, TX 78701
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Sunset Equity Funding
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National Advance Group
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Aegis Funding
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Green Knight Funding
600 Loring Avenue, Suite 5
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Allied Commercial Funding
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Northeast Lending Services
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