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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!
We found 50 search results for hard money lenders offering loans in Broadview, NM. Note amounts average around $314,063. Interest rates on private loans issued to Broadview borrowers average about 10.3%. The typical note issued in the city is 19 months in length. The average loan includes a 2.5 percent origination fee. Lenders in Broadview average a 73% LTV on their loans.
Gabrielle is an investor in Broadview, NM. She locates an older property for sale and decides to rehab it and resell it for a profit. The property costs $310,000 but she does not have the full amount so she obtains a private money loan with BCC Finance. Because the lender agrees to a 65% loan to value, Gabrielle will need to put 35% down so the amount of the note will be $201,500. The rate on the note is 10% for a length of 18 months and the company requires a one point origination fee at closing. The interest is to be paid on a monthly basis and the principle amount will be paid back after the sale of the property.
Therefore, the borrower will have to contribute a $108,500 down payment in addition to paying a $2,015 origination fee. she will then pay $1,679 monthly to the lender. If Gabrielle sells the rehabed project for $387,500 at the end of the 18 month term, her total profit (not including rehab costs) would be $45,260. This is computed by taking the sales price ($387,500) and subtracting the original note amount ($201,500), the origination fee ($2,015), the cash she contributed to closing ($108,500), and the total interest payments ($30,225).
Oceanside Lending Company makes a hard money loan to Douglas for a rehab project in Broadview, NM. The loan includes the following:
$360,000 sales price
75% loan to value (LTV)
6 month term
11% interest rate
5% origination fee
After the renovation project is finished, if Douglas sells the house for $522,000, the numbers would be the following:
$522,000 sales price
- $270,000 note principle (75% LTV)
- $90,000 cash paid at closing (25% on 75% LTV)
- $13,500 origination fee (5% of the $270,000 principle amount)
- $14,850 interest payments (6 months x 11% interest)
-----------------------
= $133,650 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!
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.
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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