212 Loans
909 NE Loop 410 Suite #100
San Antonio, TX 78209
Are the owner of this business? Claim this listing.
-
About 212 Loans
212 Loans is a San Antonio, TX based private lender offering loans across these areas: Los Angeles, San Diego, Denver, Phoenix, Dallas, Fort Worth, Austin, San Antonio, Houston, Galveston, Chicago, Nashville, Atlanta, Charlotte, and Tampa. They offer loans for a variety of situations, including rental property loans, fix and flip loans, and private commercial loans. They issue loan amounts ranging from $50,000 to $500,000 with a maximum LTV of 70% and terms up to 6 months. They provide loans on various property types, including single family residences, multi-family, apartments, office buildings, retail storefronts, and industrial buildings.
Visit Website
Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Industrial
Areas Served: Los Angeles, San Diego, Denver, Phoenix, Dallas, Fort Worth, Austin, San Antonio, Houston, Galveston, Chicago, Nashville, Atlanta, Charlotte, Tampa
-
Lending Guidelines for 212 Loans
Below are the general loan guidelines published on the 212 Loans website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: $50,000 - $500,000
Available Rates: N/A
Typical Terms: 6 months
Points Charged: 2% - 4.5%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/AFix and Flip Loans
Loan Amounts: $50,000 - $500,000
Available Rates: N/A
Typical Terms: 6 months
Points Charged: 2% - 4.5%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: $50,000 - $500,000
Available Rates: N/A
Typical Terms: 6 months
Points Charged: 2% - 4.5%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by 212 Loans.
Loan Example 1
Kimberly closes on a $200,000 renovation project in Los Angeles, CA, using a hard money loan from 212 Loans. The terms of the note include a 80% loan to value (LTV), so she must contribute 20% of the price as cash at closing, which makes the principle note amount $160,000. The parameters of the note also stipulate a one point origination fee that will be paid at closing and a 6 month, interest-only note with a 14% interest rate.
Therefore, Kimberly will be required to contribute a $40,000 down payment in addition to paying a $1,600 origination fee. She will then pay $1,867 monthly to the lender. If Kimberly sells the house for $290,000 after 6 months, she would then earn a gross profit of $77,200 after subtracting the principle of $160,000, the cash paid at closing of $40,000, the origination points of $1,600, and the aggregate interest payments of $11,200. This gross profit doesn't account for rehab costs.
Loan Example 2
Julio takes out a private money loan from 212 Loans so he can remodel a property to flip in Los Angeles, CA. The loan has the following parameters:
a) A $370,000 purchase price, b) a 65% loan-to-value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 4% origination fee.
If Julio achieves his goal of a $518,000 sales price, the outcome of the deal will be the following:
$518,000 sales price
- $240,500 principle on note (65% LTV)
- $129,500 cash paid at closing (35% on 65% LTV)
- $9,620 origination fee (4% of the $240,500 principle amount)
- $36,075 interest payments (18 months x 10% interest)
-----------------------
= $102,305 gross profit (does not include taxes or rehab costs) -
by LVRealty 02/11/2025
I've done 2 deals with 212 Loans and it has consistently been a mediocre experience. During my first deal, Mary, which was my point of contact, had so many typos on my rehab sheet that I had to correct. For my second deal, every time Mary intervene, she contributed nothing but issues half effort attempts to help close the deal quickly. Specifically, it was evident that Mary lacks the ability to properly manage the closing of a deal smoothly because of her inept communication skills. She didn't notify me when there was an issue with closing until the day of closing. All she mentioned was that closing was delayed by a day, with no reasoning or resolutions, which just shows how lazy and incompetent Mary is.After 2 messy and chaotic closings with 212 Loans, I am not giving them another chance, and I truly don't recommend them to any other investors.212 Loans reached out to me asking if I would retract this review with no correction or apology on their part. I tried to try 212 Loan for a third time, and they rejected my application after I mentioned I need to see how they performed during this 3rd transaction. As a result, there is a lot more negative reviews about 212 loans than what is showing here. Do your due diligence and ask other investors because I learned way to late that most experienced investors try to stay clear of 212 loans shady business practices. Worst lenders ever. Mary is awful
I've done 2 deals with 212 Loans and it has consistently been a mediocre experience. During my first deal, Mary, which was my point of contact, had so many typos on my rehab sheet that I had to correct. For my second deal, every time Mary intervene, she contributed nothing but issues half effort attempts to help close the deal quickly. Specifically, it was evident that Mary lacks the ability to properly manage the closing of a deal smoothly because of her inept communication skills. She didn't notify me when there was an issue with closing until the day of closing. All she mentioned was that closing was delayed by a day, with no reasoning or resolutions, which just shows how lazy and incompetent Mary is.After 2 messy and chaotic closings with 212 Loans, I am not giving them another chance, and I truly don't recommend them to any other investors.212 Loans reached out to me asking if I would retract this review with no correction or apology on their part. I tried to try 212 Loan for a third time, and they rejected my application after I mentioned I need to see how they performed during this 3rd transaction. As a result, there is a lot more negative reviews about 212 loans than what is showing here. Do your due diligence and ask other investors because I learned way to late that most experienced investors try to stay clear of 212 loans shady business practices. Worst lenders ever. Mary is awful
Your Information is Processing