Angel Oak Prime Bridge

About Angel Oak Prime Bridge

Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. They offer loan amounts starting at $50,000, terms up to 360 months, and rates starting at 9.99% . They require a minimum FICO score of 560 to receive a loan. The focus of their loans is on single family residences and multi-family units.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, New Construction Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: GA, CO, FL, SC, TN, NC, NJ, IL, TX, MD, OH, VA, PA, IN, MS

Lending Guidelines for Angel Oak Prime Bridge

Below are the general loan guidelines published on the Angel Oak Prime Bridge 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 Angel Oak Prime Bridge.

Loan Example 1

Adam is a real estate investor in Atlanta, GA. He locates an older property for sale and wants to renovate it and flip it for a profit. The house has a cost of $150,000 but he does not have the full amount so he takes out a hard money loan with Angel Oak Prime Bridge. The borrower will have to fund 35% of the purchase price in cash to closing based on a 65% loan-to-value stipulated by the lender. This makes the principle note from Angel Oak Prime Bridge $97,500. The loan is interest-only, with monthly payments, and is for 12 months at 14% interest with 2 points paid when the deal closes.

Adam will need to contribute $52,500 at closing (35% on the 65% loan to value), plus he will pay the $1,950 origination fee. The monthly interest-only payments will then be $1,138 to the lender. Adam's intention is to complete the house by the end of the 12 months and sell it for $187,500. If he succeeds he will make a profit of $21,900 ($187,500 price - $97,500 principle - $52,500 funds brough to closing - $1,950 origination fee - $13,650 in interest.

Loan Example 2

Angel Oak Prime Bridge makes a hard money loan to Cecilia for a renovation project in Atlanta, GA. The loan includes the following:

$290,000 sales price
65% loan-to-value (LTV)
12 month term
9% rate of interest
4% origination fee

Cecilia intends to list the project when the note expires for $377,000. If she succeeds, the final numbers would be the following:

$377,000 sales price
- $188,500 principle on note (65% LTV)
- $101,500 down payment (35% on 65% LTV)
- $7,540 origination fee (4% of the $188,500 principle)
- $16,965 total interest paid (12 months x 9% interest)
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= $62,495 gross profit (does not include taxes or renovation costs)