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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!
Fairplay, MD has 50 private money lenders operating within the city. In this city, the average loan amount is $287,500. Rates on hard money loans made to Fairplay borrowers average around 12.0%. The mean loan made in this city has a term of 36 months. The average note includes a 3.4 percent origination charge. Lenders offer on average a 73% LTV on loans in Fairplay.
West Shore Investment Corporation makes a hard money loan to Minerva for a remodeling project in Fairplay, MD, on a house that is listed for $320,000. The borrower will need to contribute 50% of the purchase price in cash to the closing based on a 50% loan-to-value set by the lending company. This makes the loan principle from West Shore Investment Corporation $160,000. The deal also consists of these features: 1) a 6 month length, 2) a 13% interest-only note, and 3) a three percent origination charge.
According to the terms of the loan, Minerva will have to contribute a $4,800 origination fee in addition to 50% of the purchase price, or $160,000, since there is a 50% LTV. After the deal closes, she will pay West Shore Investment Corporation $1,733 in monthly interest payments, or 13% multiplied times $160,000 divided by 12 months in the year. If Minerva sells the rehabed house for $432,000 at the end of the 6 month term, her total profit (not including renovation costs) would be $96,800. This is calculated by taking the purchase price ($432,000) and subtracting the original note amount ($160,000), the origination fee ($4,800), the funds she contributed to closing ($160,000), and the total interest expenses ($10,400).
Alberto takes out a hard money loan from USA Lending Company so he can rehab a property to flip in Fairplay, MD. The deal has the following parameters:
$190,000 purchase price
85% loan-to-value (LTV)
6 month term
12% rate of interest
3% origination fee
Based on a $266,000 sales price at the end of the 6 month term, the numbers for the project would look like this:
$266,000 sales price
- $161,500 principle on note (85% LTV)
- $28,500 down payment (15% on 85% LTV)
- $4,845 origination fee (3% of the $161,500 principle)
- $9,690 total interest paid (6 months x 12% interest)
-----------------------
= $61,465 gross profit (doesn't include taxes or renovation 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!
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!
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.
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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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 ...
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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 ...
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 ...
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Headquartered in Lakehurst, NJ, Alpha Funding Solutions is a hard money lender providing funding throughout New Jersey, Connecticut, Pennsylvania, New York, Maryland, Delaware, and Florida. They offer hard money bridge loans, long term rental property loans, private commercial ...
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Great Jones Capital is hard money lender headquartered in Washington DC. They provide loans throughout Washington DC, Maryland, and Virginia. They offer loans for a variety of scenarios, including fix and flip hard money loans, private ...
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 ...
Bluewater Funding is an asset-based lender in Rockville, MD providing funding throughout Washington DC. They provide lending solutions for many different needs and situations, including commercial loans, fix and flip hard money loans, hard money refinancing, and short ...
Silver Hill Funding is private lender based in Coral Gables, FL. They provide funding in 39 states throughout the United States. Their lending focus is primarily on commercial loans. They provide rates ranging between 6% ...
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. ...
Based in Falls Church, VA, Washington Capital Partners is a direct hard money lender providing loans in Washington DC, Maryland, Virginia, Pennsylvania, North Carolina, and beyond. They offer lending solutions for a variety of investing strategies, including fix and flip ...
Asset Based Lending LLC is a Hoboken, NJ based hard money lender who offers funding in 9 states across the US. They offer loans for a variety of scenarios, including new construction loans, hard money refinancing, loans for investments ...
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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Based in Boulder, CO, Aloha Capital is an asset-based lender offering funding in Washington DC, Maryland, Virginia, and Colorado. They offer loans for many different needs and situations, including long term rental property loans, hard money bridge loans, ...
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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 ...
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 ...
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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Walnut Street Finance provides short-term (6-24 month) commercial loans to small and mid-sized independent real estate builders, developers and investors in Virginia, Maryland, Washington, DC, Delaware, North Carolina, South Carolina, and Pennsylvania.They require minimal upfront capital from their borrowers and ...
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 ...
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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