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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!
Providence, RI has 50 hard money lenders in the city. The mean loan made to borrowers is approximately $298,959. Rates for private loans average 11.9%. 13 months is the mean term for loans issued in this city. The average origination fee for loans is 4.6 percent. Lenders offer on average a 72% loan to value (LTV) on loans in Providence.
Clifford is a real estate investor in Providence, RI. He locates an older property for sale in the Reservoir neighborhood and wants to renovate it and re-sell it for a profit. The house costs $260,000 but he does not have the full amount so he takes out a private money loan with XYZ Investment Company. As the lender agrees to a 60% loan-to-value, Clifford will need to put 40% down so the amount of the loan will be $156,000. The loan is interest only, with monthly payments, and is for 12 months at 8% interest with 4 points to be paid when the deal closes.
Clifford will need to contribute a total of $32,400 upon closing to cover the $104,000 down payment plus the $6,240 origination fee. After the loan is executed and Clifford takes on the project, he will begin making payments each month of $1,040 to XYZ Investment Company ($156,000 principle x 8% / 12 months). If Clifford accomplishes his goal of a $377,000 total sales price when the loan term expires, he would collect a gross profit of $98,280 after repaying the principle and deducting the cash he brought to closing, the origination fee, and the total interest payments.
Genevieve takes out a loan from Progressive Investment Company in order to rehab a property to flip in the Downtown area of Providence, RI. The loan has the following parameters:
$360,000 sales price
85% loan to value (LTV)
6 month term
12% rate of interest
5% origination fee
If Genevieve succeeds in her goal of a $540,000 sales price, the final numbers of the deal would be as follows:
$540,000 sales price
- $306,000 note principle (85% LTV)
- $54,000 down payment (15% on 85% LTV)
- $15,300 origination points (5% of the $306,000 principle)
- $18,360 total interest paid (6 months x 12% interest)
-----------------------
= $146,340 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!
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.
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!
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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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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 ...
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Conquest Capital Partners is an asset-based lender providing loans in Boston, Dallas, and Austin. They provide lending solutions for a variety of situations and needs, including ground up construction loans, hard money bridge loans, loans for investments properties, private refinancing, ...
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
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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 ...
Layla Capital is a direct lender based in Boca Raton, FL (formerly New York City) that specializes in small to middle market debt opportunities in primary and secondary markets nationwide, with a greater focus on the East Coast and Midwest. ...
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Park Place Finance is a nationwide, direct private lender, specializing in Fix and Flip, Bridge, and DSCR loans. With same day approvals and an average 3-5 day close time, Park Place Finance is the business partner you need to get ...
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Mass Private Lending is hard money lender based in Cohasset, MA. They provide loans in Massachusetts and Rhode Island. They provide ground-up construction loans, loans for rental properties, hard money loans for commercial properties, short term loans, ...
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Rehab Financial Group is hard money lender based in Rosemont, PA. They offer loans in 15 states across the US. They offer lending solutions for a variety of scenarios, including fix and flip loans, short term loans, ...
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
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Based in Aon, CT, Capital Three Sixty is an asset-based lender providing loans in 15 states across the United States. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, loans for investments ...
Barnett REI Finance is private lender headquartered in Northbrook, IL. They offer funding across the US. They offer long term rental property loans, fix-and-flip loans, and construction loans. Their loan parameters are versatile, including terms starting at 9 months, rates ...
Grand Coast Capital Group is a Quincy, MA based private lending and investment firm that provides creative financing solutions to local real estate investors, operators, and developers across the country.We offer loans for a variety of situations, including commercial loans, ...
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Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan parameters are flexible, ...
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Bridge Well Capital is a hard money lender in Orlando, FL offering funding in 40 states throughout the United States. They provide loans for investments properties, cash out hard money loans, and fix-and-flip hard money loans. Their ...
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Based in Salem, MA, Green Knight Funding is a hard money lender offering funding throughout Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, Maine, and Florida. They offer lending solutions for a variety of situations and needs, including fix ...
Based in North Bergen, NJ, Northeast Lending Services is a private lender offering loans in 9 states throughout the US. They provide lending solutions for many different scenarios, including commercial loans, buy and hold loans, and short term ...
Raymond C Green Companies is a private money lender based in Boston, MA providing funding throughout Massachusetts, New Hampshire, Rhode Island, Maine, Connecticut, and Florida. They provide loans for a variety of situations and needs, including construction loans, ...
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Foxpoint Lending is an asset-based lender in Providence, RI providing loans throughout New York, Rhode Island, Connecticut, Massachusetts, New Hampshire, Vermont, and Maine. They offer private commercial loans, investment property loans, and fix-and-flip loans. They issue ...
Wallace Capital is private lender headquartered in Boston, MA. They offer funding in Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, and Maine. They provide lending solutions for a variety of situations and needs, including commercial loans, ...
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