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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!
There are 50 private money lenders operating in Concord, NH. The mean loan amount in this city is $331,250. Rates for hard money loans average about 10.6%. The average term for loans is 19 months. The average points charged for the loans is 2.2%. Lenders in Concord average a 69% loan-to-value on their loans.
George finds a house in Concord, NH to renovate and resell. Since he does not have enough cash to acquire the $200,000 project outright, he decides to take out a private money loan from All Star Funding. The loan-to-value (LTV) on the note is 85%. This means George will have to bring 15% of the purchase price to the closing and the principle will be $170,000 on the loan. The rate on the loan is 9% for a length of 6 months and the company requires a five point origination fee at the close. The interest is to be paid on a monthly basis and the principle will be returned after the property sells.
George will need to fund a total of $32,400 upon closing to cover the $30,000 down payment in addition to the $8,500 origination fee. The lender will collect $1,275 in monthly interest payments from the borrower. This is calculated by taking the full loan value of $170,000, multiplying that by the 9% interest rate, and then dividing that amount by 12. If George meets his goal of a $280,000 total sales price when the loan term expires, he would pocket a gross profit of $63,850 after repaying the principle on the note and deducting the money he paid at closing, the origination points, and the total interest payments.
Ramon takes out a hard money loan from Sunrise Investment Group in order to remodel a property to flip in Concord, NH. The loan has the following terms:
a) A $400,000 purchase price, b) a 60% loan-to-value (LTV), c) a 6 month term, d) a 14% interest rate, and e) a 3% origination fee.
Based on a $580,000 sales price after the 6 month term, the outcome for the deal would look like this:
$580,000 sales price
- $240,000 loan principle (60% LTV)
- $160,000 cash paid at closing (40% on 60% LTV)
- $7,200 origination fee (3% of the $240,000 principle)
- $16,800 interest payments (6 months x 14% interest)
-----------------------
= $156,000 total profit (doesn't include taxes or renovation costs)
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!
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!
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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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 ...
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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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Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
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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 ...
Gelt Financial LLC was founded in 1989 to help both borrowers and brokers finance their real estate. With loan amounts from $100K-$5M on vacant, non-owner occupied, and owner-occupied properties, Gelt Financial funds both purchases and refinances. Additionally, Gelt provides creative ...
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 ...
Asset Avenue is private money lender based in Los Angeles, CA. They provide loans in 44 states across the United States. They provide loans for a variety of needs and situations, including short term loans, investment property ...
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 ...
Sharestates is a private, hard money lender in 46 states across the US. We offer financing solutions for a variety of needs and situations, including hard money loans for commercial properties, residential fix and flips, ground up construction, and long ...
For 40 years, DFI has been a leading private lender in the greater Boston area. We have earned our reputation as a reliable and responsive lender to investors and developers seeking to acquire, develop or refinance real estate.We provide real ...
Based in Aon, CT, Capital Three Sixty is an asset-based lender providing loans in 15 states across the United States. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, loans for investments ...
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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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Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan parameters are flexible, ...
Headquartered in Providence, RI, Northborough Capital Partners is an asset-based lender offering funding in Massachusetts, New Hampshire, Rhode Island, Maine, and Connecticut. They offer loans for a variety of situations, including refinancing, ground up construction loans, fix-and-flip loans, ...
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New Hampshire Private Lending is a hard money lender based in Weare, NH providing funding in New Hampshire. They provide fix-and-flip hard money loans, short term bridge loans, and long term rental property loans. They provide ...
Headquartered in Wellesley, MA, Pro Builder Financial is a hard money lender offering funding throughout New Hampshire, Massachusetts, Connecticut, Rhode Island, and Maine. They offer commercial hard money loans, construction loans, fix and flip loans, buy and hold ...
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The Grossman Companies is a Quincy, MA based private lender offering loans throughout Massachusetts, Connecticut, Rhode Island, New Hampshire, and New York. They offer fix-and-flip hard money loans, short term bridge loans, hard money loans for commercial properties, ...
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