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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 private money lenders were found in Turpin, OK. The median amount for loans in the city is $308,334. Rates for loans average 9.5%. 43 months is the median term for loans made in this city. The mean points charged for the loans is 3.1%. The mean loan-to-value (LTV) for loans in Turpin is 73%.
Kent closes on a $150,000 renovation project in Turpin, OK, using a hard money loan from City Funding Group. Because the lender agrees to a 85% loan to value, Kent will be required to put 15% down so the principle amount of the loan will be $127,500. The terms of the loan dictate a 14% note for 12 months. They also stipulate a 3 point origination fee, that will also have to be paid when the property closes.
Kent will have to bring $22,500 to closing (15% on the 85% loan to value), plus he will need to pay the $3,825 origination fee. After the deal is executed and Kent takes over the property, he will have to begin making monthly payments of $1,488 to the lender ($127,500 principle x 14% / 12 months). If he sells the rehabed project for $187,500 at the end of the 12 month term, his gross profit (not including rehab expenses) would be $15,825. This is computed by taking the purchase price ($187,500) and subtracting the original note amount ($127,500), the origination fee ($3,825), the cash he brought to closing ($22,500), and the total interest expenses ($17,850).
Rodney locates a house in Turpin, OK to remodel and resell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Prosperity Funding Company with the following parameters:
a) A $250,000 purchase price, b) a 85% loan to value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 3% origination fee.
Based on a $300,000 sales price at the end of the 18 month term, the numbers for this deal would look like the following:
$300,000 sales price
- $212,500 loan principle (85% LTV)
- $37,500 cash paid at closing (15% on 85% LTV)
- $6,375 origination points (3% of the $212,500 principle amount)
- $31,875 total interest paid (18 months x 10% interest)
-----------------------
= $11,750 total profit (doesn't include taxes or rehab 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!
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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.
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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The ORIGINAL LENDER of NOT requiring any of the below: - NO Application - NO Tax Returns- NO Credit Check - NO Appraisals - NO Pre-Inspection - NO Prepay Penalty - NO Upfront Fee - NO Survey - NO Bank ...
Sherman Bridge Lending is a hard money lender headquartered in Irving, TX.They current lend in the following states: AL, CA, CO, FL, GA, KS, KY, MD, MO, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WI and the District ...
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and fix-and-flip ...
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 ...
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 ...
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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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