3T Funding

About 3T Funding

3T Funding is a Houston, TX based private lender. They offer loans all across the US. They provide fix-and-flip hard money loans and commercial hard money loans. Their loan guidelines are versatile, including rates ranging between 8.99% and 14% and loan amounts ranging from $100,000 to $25,000,000 with a maximum LTV of 75%. They make loans on all the following property types: single family residences, multi family residences, apartment buildings, office units, and retail spaces.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail

Areas Served: National

Lending Guidelines for 3T Funding

Below are the general loan guidelines published on the 3T Funding website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by 3T Funding.

Loan Example 1

Brenda takes a fix and flip loan from 3T Funding in order to rehab a condo to flip in Reading, PA. The price of the property is $340,000. The lender agrees to issue a note with a 55% loan to value (LTV) so they will loan $187,000 on the project. The rate on the note is 14% for a term of 6 months and the lender requires a three point origination fee at closing. The interest payments are to be paid monthly and the principle will be returned after the property sells.

In addition to paying the $5,610 origination fee, Brenda will also need to fund $153,000 of the purchase with her own money, or 45% of the purchase price. Once the deal is executed and Brenda takes the property, she will begin making monthly payments of $2,182 to the lender ($187,000 principle x 14% / 12 months). If Brenda sells the property for $425,000 after 6 months, she would make a gross profit of $66,300 after deducting the original principle of $187,000, the cash paid at closing of $153,000, the origination points of $5,610, and the total interest payments of $13,090. This amount doesn't account for rehab costs.

Loan Example 2

Charlene takes a fix and flip loan from 3T Funding so she can renovate a townhome to re-sell in Nashville, TN. The loan has the following parameters:

a) A $330,000 purchase price, b) a 80% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 3% origination fee.

Based on a $412,500 sales price at the end of the 12 month term, the final numbers for this project would look like this:

$412,500 sales price
- $264,000 principle on note (80% LTV)
- $66,000 cash paid at closing (20% on 80% LTV)
- $7,920 origination fee (3% of the $264,000 principle amount)
- $26,400 interest payments (12 months x 10% interest)
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= $48,180 gross profit (doesn't include taxes or rehab costs)