Armor Investment Company

About Armor Investment Company

Armor Investment Company is an asset-based lender headquartered in Tucson, AZ offering loans throughout Tucson. They provide fix-and-flip loans and investment property loans. They offer loans with a maximum LTV of 55% and rates from 13%. They will consider varying lending scenarios but generally focus on single family homes and multi family residences.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans

Property Types Covered: Single Family, Multi Family

Areas Served: Tucson

Lending Guidelines for Armor Investment Company

Below are the general loan guidelines published on the Armor Investment Company 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 Armor Investment Company.

Loan Example 1

Glenda is an investor in Tucson, AZ. She finds an older property and wants to renovate it and flip it for a profit. The house costs $340,000 but she does not have the full amount so she obtains a private money loan with Armor Investment Company. As the lender agrees to a 60% loan to value, Glenda will need to put 40% down so the amount of the loan will be $204,000. The terms of the loan also stipulate a three percent origination fee that is to be paid at closing and a 6 month, interest-only note with a 14% rate of interest.

In accordance with the parameters of the note, Glenda will have to pay a $6,120 origination fee in addition to 40% of the sales price, or $136,000, since there is a 60% LTV. The monthly interest only payments will then total $2,380 to Armor Investment Company. At the end of the loan, she sells the rehabed house for $408,000. After subtracting the $14,280 in interest expenses ($2,380 multiplied by 6 months), the $6,120 origination fee, the $204,000 principle amount on the loan, and the $136,000 she contributed to closing, she will make a gross profit of $47,600 ($408,000 price minus $360,400 in total costs). This amount would be reduced by any renovation costs paid by Glenda.

Loan Example 2

Armor Investment Company issues a loan to Tricia for a renovation project in Tucson, AZ. The deal includes the following:

a) A $260,000 purchase price, b) a 70% loan-to-value (LTV), c) a 12 month term, d) a 9% interest rate, and e) a 5% origination fee.

Assuming a $377,000 sales price after the 12 month term, the numbers for the deal would look like the following:

$377,000 sales price
- $182,000 principle (70% LTV)
- $78,000 down payment (30% on 70% LTV)
- $9,100 origination fee (5% of the $182,000 principle)
- $16,380 interest payments (12 months x 9% interest)
-----------------------
= $91,520 gross profit (does not include taxes or rehab costs)

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