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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!
A total of 50 records for private money lenders were found in Ensign, KS. The mean note amount in this city is $296,000. Interest rates for loans average about 10.1%. The average note issued in this city has a term of 43 months. The average origination percentage charged for loans is 2.8%. The typical loan to value (LTV) for loans in Ensign is 72%.
Uptown Funding Group makes a private money loan to Luella for a rehab project in Ensign, KS, on a house that costs $200,000. The loan to value (LTV) on the deal is 75%. This means Luella will have to bring 25% of the sales price to closing and the principle amount will be $150,000 on the deal. The loan is interest-only, with monthly payments, and is for 18 months at 14% interest with 2 points to be paid when the deal closes.
Accordingly, the borrower will have to make a $50,000 down payment in addition to paying a $3,000 origination fee. The lender will collect $1,750 in monthly interest payments from the Luella. This is computed by taking the total loan value of $150,000, multiplying that by the 14% interest rate, and then dividing that number by 12. If Luella accomplishes her goal of a $300,000 total sales price at the end of the loan term, she would earn a total profit of $65,500 after re-paying the principle on the note and deducting the money she brought to closing, the origination fee, and the monthly interest payments.
April is a an investor in Ensign, KS. She locates an older house for a renovation project and obtains a private money loan from River City Finance with the following features:
a) A $290,000 sales price, b) a 60% loan-to-value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 3% origination fee.
April intends to sell the house at the end of the term for $348,000. If she accomplishes her goal, the deal numbers would be the following:
$348,000 sales price
- $174,000 note principle (60% LTV)
- $116,000 down payment (40% on 60% LTV)
- $5,220 origination fee (3% of the $174,000 principle)
- $33,930 interest payments (18 months x 13% interest)
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= $18,850 gross profit (does not include taxes or rehab 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!
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!
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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 ...
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