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With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Kaneohe, HI has 50 private money lenders operating within the city. The median amount for loans in this city is $299,063. Interest rates for hard money loans average 9.4%. The typical note issued in this city has a term of 20 months. The average loan includes a 3.0 percent origination charge. Lenders offer on average a 77% loan-to-value on loans in Kaneohe.
Blanca takes a hard money loan from Big Lake Finance Group in order to rehab a condo to resale in the Ahuimanu subdivision of Kaneohe, HI. The sales price of the property is $390,000. Because the lender agrees to a 50% loan to value, Blanca will have to put 50% down and the total amount of the note will be $195,000. The parameters of the deal dictate a 11% note for 6 months. They also stipulate a 5 point origination fee, which will also be paid upon closing.
Accordingly, Blanca will be required to make a $195,000 down payment plus pay a $9,750 origination fee. After the loan is executed and Blanca takes over the property, she will need to begin making monthly payments of $1,788 to the lender ($195,000 principle x 11% / 12 months). If Blanca meets her goal of a $565,500 total sales price at the end of the loan term, she would earn a total profit of $155,025 after repaying the principle on the note and subtracting the cash she contributed at closing, the origination fee, and the monthly interest payments.
Brook View Finance Corporation makes a hard money loan to Brooke for a renovation project in the Ahuimanu area of Kaneohe, HI. The loan dictates the following:
$150,000 purchase price
50% loan to value (LTV)
12 month term
11% interest rate
3% origination fee
Brooke plans to list the house when the note expires for $187,500. If she accomplishes her goal, the final numbers will be the following:
$187,500 sales price
- $75,000 principle on note (50% LTV)
- $75,000 down payment (50% on 50% LTV)
- $2,250 origination points (3% of the $75,000 principle amount)
- $8,250 total interest paid (12 months x 11% interest)
-----------------------
= $27,000 gross profit (doesn't include taxes or renovation costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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.
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!
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