Autumnwood Funding

About Autumnwood Funding

Autumnwood Funding is a Lewis Center, OH based hard money lender. They offer loans in Columbus. They provide loans for many different scenarios, including hard money bridge loans and fix-and-flip loans. They provide loans with a maximum LTV of 80%, rates from 12%, and terms up to 9 months. Their loan parameters require a minimum FICO score of 680. They primarily offer funding for single family and multi-family.

Loan Types Offered: Fix and Flip Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: Columbus

Lending Guidelines for Autumnwood Funding

Below are the general loan guidelines published on the Autumnwood Funding 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 Autumnwood Funding.

Loan Example 1

Leo is a real estate investor in Columbus, OH. He discovers a run-down property and wants to remodel it and flip it for a profit. The house has a cost of $370,000 but he doesn't have the full amount so he takes out a hard money loan with Autumnwood Funding. The borrower will have to fund 40% of the sales price in cash to closing based on a 60% loan to value set by the lending company. This makes the loan principle from Autumnwood Funding $222,000. The rate on the note is 10% for a term of 18 months and the lender requires a four point origination fee at the close. The interest is to be paid on a monthly basis and the principle will be returned after the sale of the property.

On top of the $8,880 origination fee, Leo will also need to fund $148,000 of the purchase with his own cash, or 40% of the sales price. he will then pay $1,850 per month to Autumnwood Funding. If he sells the rehabed house for $518,000 at the end of the 18 month term, his total profit (not accounting for rehab expenses) would be $105,820. This is computed by taking the purchase price ($518,000) and subtracting the principle ($222,000), the origination fee ($8,880), the funds he contributed to closing ($148,000), and the total interest expenses ($33,300).

Loan Example 2

Claudette is a real estate investor in Columbus, OH. She purchases an older property for a remodeling project and takes out a fix and flip loan from Autumnwood Funding with the following paramters:

a) A $220,000 purchase price, b) a 65% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 1% origination fee.

Claudette plans to list the property at the end of the term for $286,000. If she succeeds, the deal numbers would be the following:

$286,000 sales price
- $143,000 loan principle (65% LTV)
- $77,000 down payment (35% on 65% LTV)
- $1,430 origination points (1% of the $143,000 principle amount)
- $7,865 total interest paid (6 months x 11% interest)
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= $56,705 gross profit (does not include taxes or renovation costs)

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