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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!
Alstead, NH has 50 private money lenders offering loans in the city. The average loan issued is about $311,111. The average interest rate for private loans in Alstead is 9.9%. The mean note issued in this city is 21 months in length. The mean origination percentage charged on the loans is 2.7%. Lenders typically offer a 74% loan to value on hard money loans in Alstead.
Monique takes a loan from Flippers Lending Group in order to remodel a duplex to flip in Alstead, NH. The list price of the house is $320,000. The loan to value (LTV) on the loan is 60%. This means that Monique will bring 40% of the purchase price to closing and the principle amount will be $192,000 on the deal. The parameters of the deal dictate a 11% note for 6 months. They also require a 5 point origination fee, which will also have to be paid at closing.
Monique will have to contribute $128,000 to the closing (40% on the 60% loan-to-value), plus she will have to pay the $9,600 origination fee. The monthly interest-only payments will then be $1,760 to the lender. If she sells the renovated project for $464,000 at the end of the 6 month term, her total profit (not accounting for remodeling costs) would be $123,840. This is computed by taking the purchase price ($464,000) and subtracting the original note amount ($192,000), the origination cost ($9,600), the funds she contributed to closing ($128,000), and the total interest expenses ($10,560).
Mildred takes a hard money loan from Allstar Funding so she can renovate a townhome to flip in Alstead, NH. The loan has the following parameters:
a) A $380,000 purchase price, b) a 80% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 4% origination fee.
Mildred intends to list the project when the note expires for $513,000. If she accomplishes her goal, the deal numbers will be as follows:
$513,000 sales price
- $304,000 principle on note (80% LTV)
- $76,000 down payment (20% on 80% LTV)
- $12,160 origination points (4% of the $304,000 principle)
- $30,400 interest payments (12 months x 10% interest)
-----------------------
= $90,440 gross profit (doesn't include taxes or renovation 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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