Ascent Home Loans
9299 E Stockton Blvd, Suite 50
Elk Grove, CA 95624
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About Ascent Home Loans
Headquartered in Elk Grove, CA, Ascent Home Loans is a hard money lender offering funding throughout Sacramento. They provide fix and flip hard money loans, loans for rental properties, and cash out hard money loans. They primarily offer funding for single family residences and multi-family.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Sacramento
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Lending Guidelines for Ascent Home Loans
Below are the general loan guidelines published on the Ascent Home Loans website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 10 - 14 DaysFix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 10 - 14 DaysRefinance / Cash Out Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 10 - 14 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Ascent Home Loans.
Loan Example 1
Bobbie is a real estate investor in Sacramento, CA. She finds an older property for sale and decides to rehab it and flip it for a profit. The house costs $200,000 but she doesn't have the full amount so she obtains a hard money loan with Ascent Home Loans. The loan-to-value (LTV) on the note is 55%. This means that Bobbie will have to bring 45% of the purchase price to closing and the principle amount will be $110,000 on the loan. The terms of the loan also include a three point origination fee which will be paid at closing and a 6 month, interest only note with a 9% rate of interest.
In addition to paying the $3,300 origination fee, Bobbie will also have to fund $90,000 of the purchase with her own funds, or 45% of the purchase price. Once the deal is executed and Bobbie takes the project, she will begin making payments each month of $825 to the lender ($110,000 principle x 9% / 12 months). Bobbie's plan is to complete the project within the 6 months and re-sell it for $290,000. If she succeeds she will make a profit of $81,750 ($290,000 price - $110,000 principle amount - $90,000 funds brough to closing - $3,300 origination fee - $4,950 in interest.
Loan Example 2
Irene takes out a loan from Ascent Home Loans so she can rehab a townhouse to resell in Sacramento, CA. The deal has the following terms:
a) A $310,000 purchase price, b) a 75% loan-to-value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 1% origination fee.
If Irene succeeds in her goal of a $465,000 sales price, the outcome of the project will be the following:
$465,000 sales price
- $232,500 note principle (75% LTV)
- $77,500 cash paid at closing (25% on 75% LTV)
- $2,325 origination points (1% of the $232,500 principle)
- $45,338 total interest paid (18 months x 13% interest)
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= $107,338 gross profit (does not include taxes or renovation costs) -
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