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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!
Sherwood, OR has 50 hard money lenders issuing loans in the city. In this city, the mean loan amount is $358,929. Rates for private loans average about 11.2%. The average term offered for notes is 22 months. The average origination fee for loans is 3.1 points. 74% is the mean loan to value offered for for loans in Sherwood.
Prosper Investments issues a private money loan to Doreen for a rehab project in the Neighbors Southwest neighborhood of Sherwood, OR, on a property that is listed for $330,000. The lender agrees to write a note with a 70% loan-to-value (LTV) so they are willing to loan $231,000 on the project. The note is interest only, with monthly payments, and is for 12 months at 8% interest with 4 origination points paid at closing.
On top of the $9,240 origination fee, Doreen will also fund $99,000 of the purchase with her own money, or 30% of the purchase price. Once the deal closes, she will pay Prosper Investments $1,540 in monthly interest payments, or 8% multiplied times $231,000 divided by 12 months in the year. If she sells the rehabed project for $462,000 at the end of the 12 month term, her total profit (not accounting for renovation costs) would be $104,280. This is computed by taking the purchase price ($462,000) and subtracting the principle ($231,000), the origination cost ($9,240), the cash she contributed to closing ($99,000), and the total interest expenses ($18,480).
Myrtle is a an investor in the Neighbors Southwest area of Sherwood, OR. She buys an older house for a rehab project and obtains a private money loan from Famous Lending Group with the following features:
$190,000 sales price
60% loan-to-value (LTV)
18 month term
9% rate of interest
4% origination fee
Myrtle intends to sell the property at the end of the term for $228,000. If she succeeds, the outcome will be as follows:
$228,000 sales price
- $114,000 note principle (60% LTV)
- $76,000 down payment (40% on 60% LTV)
- $4,560 origination points (4% of the $114,000 principle amount)
- $15,390 total interest paid (18 months x 9% interest)
-----------------------
= $18,050 total 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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