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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!
Thornburg, VA has 50 private money lenders operating within the city. The average note issued is approximately $295,000. The average rate for private loans in Thornburg is 11.2%. The median loan issued in this city has a length of 13 months. The average origination for loans is 3.3 points. Lenders offer on average a 79% loan to value on hard money loans in Thornburg.
Edna is a house flipper in Thornburg, VA. She discovers a run-down property for sale and wants to rehab it and sell it for a profit. The house costs $260,000 but she does not have the full amount so she takes out a private money loan with BCC Funding. The lender agrees to issue a note with a 85% loan to value (LTV) so they are willing to extend $221,000 on the house. The terms of the loan dictate a 12% note for 6 months. They also require a 5 point origination fee, that will also have to be paid upon closing.
In accordance with the terms of the loan, Edna will have to pay a $11,050 origination fee in addition to 15% of the purchase price, or $39,000, based on the 85% LTV. After the loan is executed and Edna takes on the property, she will begin making monthly payments of $2,210 to the lender ($221,000 principle x 12% / 12 months). If Edna meets her goal of a $377,000 sales price when the loan term expires, she would pocket a total profit of $92,690 after repaying the principle and subtracting the money she contributed at closing, the origination points, and the monthly interest payments.
Flourish Lending Group issues a private money loan to Chester for a renovation project in Thornburg, VA. The deal includes the following:
$400,000 purchase price
50% loan-to-value (LTV)
12 month term
8% rate of interest
5% origination fee
Once the renovation project is completed, if Chester sells the house for $580,000, the numbers would be the following:
$580,000 sales price
- $200,000 note principle (50% LTV)
- $200,000 down payment (50% on 50% LTV)
- $10,000 origination points (5% of the $200,000 principle)
- $16,000 total interest paid (12 months x 8% interest)
-----------------------
= $154,000 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!
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!
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Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
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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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Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
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