Assent

About Assent

Assent is an asset-based lender headquartered in Irvine, CA providing loans in California. They provide loans for a variety of situations, including ground-up construction loans, short term loans, commercial hard money loans, and fix-and-flip hard money loans. They offer terms between 3 months and 2 years, rates ranging between 12% and 18%, and loans with a maximum LTV of 80%. They provide loans on numerous property types, including single family, multi family, apartments, office buildings, mixed use spaces, retail units, warehouse spaces, storage facilities, and industrial facilities.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Mixed Use, Retail, Warehouse, Storage, Industrial

Areas Served: CA

Lending Guidelines for Assent

Below are the general loan guidelines published on the Assent 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 Assent.

Loan Example 1

Assent makes a private money loan to Tyrone for a renovation project in Los Angeles, CA, on a house that is listed for $290,000. As the lender agrees to a 55% loan-to-value, Tyrone will need to put 45% down so the total amount of the note will be $159,500. The loan also has these features: 1) a 18 month term, 2) a 10% interest-only note, and 3) a four percent origination fee.

Therefore, Tyrone will be required to make a $130,500 down payment plus pay a $6,380 origination fee. After the loan closes, he will have to pay Assent $1,329 in monthly interest fees, or 10% times $159,500 divided by 12 months in a year. If Tyrone sells the project for $406,000 after 18 months, he would make a total profit of $85,695 after subtracting the principle of $159,500, the cash contributed at the close of $130,500, the origination points of $6,380, and the aggregate interest payments of $23,925. This gross profit does not account for renovation costs.

Loan Example 2

Christopher takes a fix and flip loan from Assent in order to remodel a property to re-sell in Los Angeles, CA. The deal has the following terms:

$220,000 sales price
70% loan to value (LTV)
12 month term
12% interest rate
2% origination fee

If Christopher succeeds in his goal of a $319,000 sales price, the final numbers of the deal will be the following:

$319,000 sales price
- $154,000 principle on note (70% LTV)
- $66,000 cash paid at closing (30% on 70% LTV)
- $3,080 origination fee (2% of the $154,000 principle)
- $18,480 total interest paid (12 months x 12% interest)
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= $77,440 gross profit (does not include taxes or renovation costs)

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