Park Place Finance

About Park Place Finance

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 your real estate investments funded.

Our Fix and Flip loan product is designed to fund 100% of renovation costs and to close quickly. This loan product offers 12-24 month terms and will fund up to 90% of the project cost.

Our Bridge loan offers short-term financing to acquire or refinance a property when conventional financing is not available or might take too long to close. This loan is available at 12-24 month terms and up to 75% loan to value.

Our 30-year fixed rate DSCR loan is designed to assist with financing rental properties. This product can fund up to 80% of the property's value.

Our Ground Up Construction is designed to provide a streamlined funding solution to build single family projects. Designed for experienced builders, we lend on permit-ready single family construction projects. The product can fund up to 75% of the total project cost.

Our borrowers benefit from competitive rates dependent on property location, the borrower's experience, and the borrower's credit. Our national footprint offers you endless opportunities for your growing portfolio. We look forward to working with you.

Loan Types Offered: Hard Money Loans, Fix and Flip Loans, Bridge Loans, New Construction Loans

Property Types Covered: Single Family

Areas Served: AL, AZ, AR, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY

Lending Guidelines for Park Place Finance

Below are the general loan guidelines published on the Park Place Finance 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 Park Place Finance.

Loan Example 1

Justin is a real estate investor in Tampa, Florida. He finds a house that he wants to renovate and then resell (fix and flip). The price for the home is $350,000 and Justin's contractor has bid the renovation costs at $50,000. After the project is complete, Justin believes he can sell the home for $525,000. Justin has a lot of experience doing this and is able to get a loan from Park Place Finance that funds 90% of the purchase price ($315,000) and 100% of the renovation costs ($50,000) allowing Justin to pay a 10% down payment ($35,000) for the home. The total loan amount is $365,000 or 70% of the After-Repair-Value of the home. He will also pay Park Place a 1% origination fee. Justin will complete the renovations in 4 months so the short-term loan of 12 months will work perfectly for him. Justin completes and sells the home in 6 months. He pays $18,231.75 in interest over 6 months and makes a gross profit from the sale of the home of $125,000.

Loan Example 2

Johnny is a real estate investor in Austin, TX. He is rather successful and has a lot of cash in the bank. To be competitive with home offers, Johny needs to close fast. He uses Park Place Finance for Bridge loans where he can purchase a home putting just 25% of his own cash down towards the purchase and finance 75% of the home with a Bridge Loan. Johnny uses his own cash to renovate the property.

Purchase Price: $200,000
Down Payment: $50,000
Loan Amount: $150,000
Loan Term: 12 Months
Loan Rate: 9.99%