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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 results for hard money lenders were found in Ozona, FL. In this city, the mean note amount is $295,588. Interest rates for loans average about 11.4%. The average note issued in this city is 27 months in length. The mean points applied to the loans is 3.6%. Lenders offer on average a 70% LTV on loans in Ozona.
Kristi finds a townhouse in Ozona, FL to remodel and resell. Since she doesn't have enough cash on-hand to buy the $340,000 house outright, she decides to take out a hard money loan from J & T Investment Group. The borrower will need to contribute 40% of the sales price in cash to closing based on a 60% loan to value set by the lender. This makes the principle note from J & T Investment Group $204,000. The note is interest only, with monthly payments, and is for 12 months at 13% interest with 2 origination points paid at closing.
Kristi will need to contribute $136,000 to the closing (40% on the 60% loan to value), plus she will need to pay the $4,080 origination fee. J & T Investment Group will collect $2,210 in monthly interest payments from the Kristi. This is calculated by taking the full note value of $204,000, multiplying by the 13% rate of interest, and then dividing that number by 12. Kristi's plan is to complete the project by the end of the 12 months and resell it for $476,000. If she succeeds she will collect a gross profit of $105,400 ($476,000 price - $204,000 principle amount - $136,000 cash paid at closing - $4,080 origination fee - $26,520 in total interest.
Edgar is a an investor in Ozona, FL. He locates an older property for a renovation project and obtains a private money loan from Brown Investment Company with the following terms:
a) A $350,000 sales price, b) a 75% loan-to-value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 1% origination fee.
Edgar intends to sell the property when the note expires for $455,000. If he accomplishes his goal, the final numbers would be as follows:
$455,000 sales price
- $262,500 note principle (75% LTV)
- $87,500 cash paid at closing (25% on 75% LTV)
- $2,625 origination fee (1% of the $262,500 principle amount)
- $43,313 interest payments (18 months x 11% interest)
-----------------------
= $59,063 gross profit (doesn't include taxes or renovation 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!
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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.
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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 ...
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
The Associates Home Loan of Florida is a Tampa, FL based private money lender. They offer funding in Florida. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, short term fix ...
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