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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!
Fowler, CA has 50 private money lenders serving the city. The average amount for loans in this city is $370,000. The average interest rate for loans in Fowler is 10.2%. 30 months is the average term for notes issued in the city. The mean origination fee for the loans is 3.0 points. The mean loan to value offered for loans in Fowler is 67%.
Margie is a house flipper in Fowler, CA. She discovers a run-down property for sale and wants to remodel it and re-sell it for a profit. The house has a cost of $180,000 but she does not have the full amount so she takes a private money loan with Green Fern Finance Corporation. The loan to value (LTV) on the deal is 60%. This means Margie will have to bring 40% of the purchase price to closing and the principle will be $108,000 on the deal. The deal also includes the following features: 1) a 6 month term, 2) a 11% interest-only note, and 3) a one point origination fee.
Margie will have to contribute $72,000 at the closing (40% on the 60% loan to value), plus she will have to pay the $1,080 origination fee. The lender will collect $990 in monthly interest payments from the Margie. This is computed by taking the full note value of $108,000, multiplying that by the 11% rate of interest, and then dividing that number by 12. At the end of the loan, she sells the renovated house for $270,000. After deducting the $5,940 in interest expenses ($990 times 6 months), the $1,080 origination fee, the $108,000 principle on the loan, and the $72,000 she contributed to closing, she will earn a total profit of $82,980 ($270,000 sales price minus $187,020 in costs). This amount would be reduced by any rehab costs paid by Margie.
Melvin takes out a private money loan from Acme Lending Group in order to remodel a townhouse to re-sell in Fowler, CA. The deal has the following terms:
a) A $240,000 purchase price, b) a 85% loan to value (LTV), c) a 6 month term, d) a 12% interest rate, and e) a 2% origination fee.
After the renovation project is finished, if Melvin sells the project for $336,000, the final numbers would be as follows:
$336,000 sales price
- $204,000 principle on note (85% LTV)
- $36,000 down payment (15% on 85% LTV)
- $4,080 origination points (2% of the $204,000 principle amount)
- $12,240 total interest paid (6 months x 12% interest)
-----------------------
= $79,680 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!
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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Jcap is a Newport Beach, CA based direct lender who closes and services investor funded short-term real estate loans. They provide loans in 43 states. They offer private refinancing, fix-and-flip hard money loans, investment property loans and more. Their loan ...
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Aztec Financial is an asset-based lender in Burbank, CA offering loans throughout California. They provide lending solutions for a variety of situations, including hard money refinancing, loans for rental properties, builder loans, fix-and-flip loans, short term loans, and ...
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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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