
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Madras, OR has 50 hard money lenders issuing loans in the city. The average note issued is around $298,215. The average rate for hard money loans in Madras is 10.7%. The typical length for loans is 18 months. The mean note includes a 3.4 point origination charge. 81% is the mean LTV for offered by lenders in Madras.
Presitge Funding Group makes a hard money loan to Loraine for a rehab project in Madras, OR, on a house that is listed for $250,000. The lender agrees to make a loan with a 60% loan-to-value (LTV) so they are willing to extend $150,000 on the property. The rate on the loan is 9% for a term of 18 months and the company requires a two point origination fee at the close. The interest is to be paid monthly and the principle will be repaid after the sale of the property.
The borrower must fund a total of $32,400 up front to pay the $100,000 down payment plus the $3,000 origination fee. Presitge Funding Group will collect $1,125 in monthly interest payments from the borrower. This is calculated by taking the full loan value of $150,000, multiplying that by the 9% rate of interest, and then dividing that number by 12. If Loraine achieves her goal of a $312,500 total sales price when the loan expires, she would pocket a gross profit of $39,250 after re-paying the principle and subtracting the cash she brought to closing, the origination points, and the monthly interest payments.
Janet is a real estate investor in Madras, OR. She purchases a run-down townhouse for a renovation project and takes a private money loan from Riverside Lending Group with the following features:
a) A $210,000 sales price, b) a 85% loan-to-value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 2% origination fee.
Once the rehab project is finished, if Janet sells the house for $283,500, the outcome would be as follows:
$283,500 sales price
- $178,500 principle (85% LTV)
- $31,500 down payment (15% on 85% LTV)
- $3,570 origination fee (2% of the $178,500 principle amount)
- $34,808 total interest paid (18 months x 13% interest)
-----------------------
= $35,123 gross profit (does not 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!
We are personally invested in every loan. We deliver easy transactions that are competitively priced and swiftly executed.
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