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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!
Cleveland, OH has 50 lenders operating within the city. In this city, the average loan amount is $345,313. Interest rates for hard money loans average 11.2%. The median loan issued in this city is for 20 months. The mean origination percentage charged on the loans is 3.2%. Lenders typically offer a 77% loan-to-value on hard money loans in Cleveland.
Kyle closes on a $210,000 rehab project in the Old Brooklyn subdivision of Cleveland, OH, using a private money loan from Blue Door Finance Corporation. The borrower will be required to contribute 35% of the sales price in cash to closing based on a 65% loan-to-value set by the lending company. This makes the loan principle from Blue Door Finance Corporation $136,500. The terms of the loan dictate a 10% note for 6 months. They also require a 5 point origination fee, that will also have to be paid at closing.
Kyle will need to contribute a total of $32,400 up front to cover the $73,500 down payment plus the $6,825 origination fee. Blue Door Finance Corporation will collect $1,138 in monthly interest payments from the Kyle. This is computed by taking the total loan value of $136,500, multiplying by the 10% interest rate, and then dividing that amount by 12. Kyle's plan is to finish the rehab by the end of the 6 months and sell it for $283,500. If he succeeds he will make a profit of $59,850 ($283,500 sales price - $136,500 principle - $73,500 down payment - $6,825 origination fee - $6,825 in interest.
Fortune Lending Group issues a loan to Nannie for a remodeling project in the Brooklyn Centre neighborhood of Cleveland, OH. The loan dictates the following:
a) A $150,000 purchase price, b) a 65% loan to value (LTV), c) a 6 month term, d) a 12% interest rate, and e) a 4% origination fee.
After the rehab project is finished, if Nannie sells the property for $180,000, the outcome would be the following:
$180,000 sales price
- $97,500 loan principle (65% LTV)
- $52,500 down payment (35% on 65% LTV)
- $3,900 origination fee (4% of the $97,500 principle amount)
- $5,850 total interest paid (6 months x 12% interest)
-----------------------
= $20,250 gross profit (does not include taxes or rehab costs)
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!
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.
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 46 states throughout the US. They provide short-term and long-term fix and flip loans, loans for rental properties, bridge loans, and ground-up new construction loans ...
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Do Hard Money is a hard money lender based in West Jordan, UT providing funding in 13 states throughout the United States. Their lending focus is primarily on fix-and-flip hard money loans. Their lending guidelines are flexible, including ...
Since its inception in 2011, Lima One Capital has funded over $9 billion in loans for real estate investors who are building, improving, and stabilizing neighborhoods across the nation. Lima One’s core loan products are New Construction loans for ground-up ...
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
New Silver is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get ...
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including ...
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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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Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
LYNK Capital is a fast-growing private lender offering residential renovation, construction, and rental loans. Our team has decades of construction lending experience and we're here to help you through every stage of your project.We lend in: AL, CT, DC, DE, ...
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Park Place Finance is a nationwide, direct private lender, specializing in Fix and Flip, Bridge, and DSCR loans. With same day approvals and an average 3-5 day close time, Park Place Finance is the business partner you need to get ...
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
Sherman Bridge Lending is a hard money lender headquartered in Irving, TX.They current lend in the following states: AL, CA, CO, FL, GA, KS, KY, MD, MO, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WI and the District ...
Hilton Financial Corporation is an asset-based lender headquartered in Phoenix, AZ offering loans in Arizona, Colorado, Hawaii, Ohio, Tennessee, Texas, & Utah.They offer loans for a variety of situations, including fix-and-flip, fix-and lease, spec construction, and manufactured home set up ...
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Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
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Aero Capital Finance is a Kissimmee, FL based private lender. They provide loans in 18 states throughout the United States. They offer loans for a variety of scenarios, including private refinancing, fix and flip loans, hard money loans ...
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The Mortgage Banc is a hard money lender headquartered in Columbus, OH providing funding in Ohio. They provide lending solutions for many different situations and needs, including investment property loans, builder loans, and fix and flip loans. ...
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Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
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