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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!
Fort Blackmore, VA has 50 lenders serving the city. In this city, the average loan amount is $280,715. Rates on loans issued to Fort Blackmore borrowers average 10.9%. The median length for loans is 25 months. The mean origination fee for loans is 3.4 percent. 73% is the median loan-to-value for for loans in Fort Blackmore.
Ray closes on a $290,000 renovation project in Fort Blackmore, VA, using a private money loan from West Side Lending Group. As the lender agrees to a 75% loan-to-value, Ray will have to put 25% down and the principle amount of the loan will be $217,500. The deal also consists of these features: 1) a 12 month length, 2) a 9% interest only note, and 3) a two point origination fee.
Ray will need to contribute $72,500 to the closing (25% on the 75% LTV), plus he will need to pay the $4,350 origination fee. he will then pay $1,631 per month to West Side Lending Group. If Ray sells the house for $377,000 after 12 months, he would realize a total profit of $63,075 after deducting the principle amount of $217,500, the money paid at the close of $72,500, the origination fee of $4,350, and the total interest payments of $19,575. This amount does not account for rehab costs.
River City Finance Group makes a loan to Gregory for a remodeling project in Fort Blackmore, VA. The deal dictates the following:
$240,000 purchase price
50% loan-to-value (LTV)
12 month term
14% rate of interest
5% origination fee
Assuming a $300,000 sales price at the end of the 12 month term, the outcome for this deal would look like the following:
$300,000 sales price
- $120,000 loan principle (50% LTV)
- $120,000 down payment (50% on 50% LTV)
- $6,000 origination points (5% of the $120,000 principle amount)
- $16,800 interest payments (12 months x 14% interest)
-----------------------
= $37,200 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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Great Jones Capital is hard money lender headquartered in Washington DC. They provide loans throughout Washington DC, Maryland, and Virginia. They offer loans for a variety of scenarios, including fix and flip hard money loans, private ...
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Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...
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