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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!
Camp H M Smith, HI has 50 private money lenders issuing loans in the city. Loan amounts average approximately $320,313. The average interest rate for loans in Camp H M Smith is 10.2%. The typical length offered for loans is 38 months. The average loan offered in this city carries a 3.6 point origination charge. Lenders typically offer a 73% loan to value on hard money loans in Camp H M Smith.
Jaime closes on a $300,000 renovation project in Camp H M Smith, HI, using a private money loan from Prime Time Finance Company. The borrower will be required to contribute 50% of the sales price in cash to closing based on a 50% loan to value stipulated by the lending company. This makes the principle amount from Prime Time Finance Company $150,000. The terms of the deal dictate a 10% note for 6 months. They also require a 5 point origination fee, that will also have to be paid when the property closes.
By the parameters of the deal, Jaime will be required to pay a $7,500 origination fee plus 50% of the sales price, or $150,000, based on the 50% LTV. The monthly interest-only payments will then be $1,250 to the lender. If Jaime sells the project for $390,000 after 6 months, she would then make a total profit of $75,000 after subtracting the original principle of $150,000, the cash paid at closing of $150,000, the origination points of $7,500, and the aggregate interest payments of $7,500. This gross profit doesn't account for building costs.
K & M Finance Corporation issues a loan to Leann for a rehab project in Camp H M Smith, HI. The deal includes the following:
$230,000 purchase price
70% loan-to-value (LTV)
12 month term
9% interest rate
4% origination fee
If Leann achieves her goal of a $322,000 sales price, the outcome of the project would be the following:
$322,000 sales price
- $161,000 principle on note (70% LTV)
- $69,000 cash paid at closing (30% on 70% LTV)
- $6,440 origination fee (4% of the $161,000 principle amount)
- $14,490 interest payments (12 months x 9% interest)
-----------------------
= $71,070 total profit (does not 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!
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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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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