Barrett Financial Group

About Barrett Financial Group

Barrett Financial Group is private money lender based in Phoenix, AZ. They provide funding in Arizona. They provide fix-and-flip hard money loans, commercial loans, loans for investments properties, and ground-up construction loans. They offer loans with a maximum LTV of 90%, rates starting at 7.99% , and terms between 3 months and 60 months. They make loans on numerous property types, including single family residences, multi family, apartments, office buildings, retail units, hotels and motels, storage facilities, assisted living communities, mixed use, warehouse spaces, industrial buildings, medical offices, raw land, and churches.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land, Church

Areas Served: AZ

Licenses: NMLS #181106, AZ MB – 0904774, Michael Iuculano - NMLS ID: 370470, AZ MLO License: 0923102, Barrett Financial Group, L.L.C. Gilbert, AZ, NMLS ID: 181106, AZ License: MB-0904774, Barrett Financial Group, L.L.C. Phoenix, AZ, NMLS ID: 1421237, AZ Branch License: MBBR-0120728

Lending Guidelines for Barrett Financial Group

Below are the general loan guidelines published on the Barrett Financial Group 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 Barrett Financial Group.

Loan Example 1

Aaron is a real estate investor in Phoenix, AZ. He finds an older property for sale and decides to remodel it and flip it for a profit. The property has a cost of $270,000 but he doesn't have the full amount so he takes a hard money loan with Barrett Financial Group. Since the lender agrees to a 65% loan to value, Aaron will have to put 35% down so the total amount of the note will be $175,500. The note is interest-only, paid monthly, and is for 6 months at 11% interest with 5 points to be paid at closing.

The borrower will have to bring a total of $32,400 upon closing to cover the $94,500 down payment plus the $8,775 origination fee. he will then pay $1,609 monthly to the lender. If Aaron sells the property for $391,500 after 6 months, he would then earn a total profit of $103,073 after subtracting the principle of $175,500, the funds paid at closing of $94,500, the origination points of $8,775, and the aggregate interest payments of $9,653. This profit doesn't include renovation costs.

Loan Example 2

Juan takes a private money loan from Barrett Financial Group in order to remodel a townhouse to flip in Phoenix, AZ. The loan has the following parameters:

$230,000 purchase price
85% loan-to-value (LTV)
6 month term
13% interest rate
4% origination fee

Juan intends to list the project when the note expires for $276,000. If he achieves this goal, the deal numbers would be as follows:

$276,000 sales price
- $195,500 note principle (85% LTV)
- $34,500 cash paid at closing (15% on 85% LTV)
- $7,820 origination points (4% of the $195,500 principle)
- $12,708 interest payments (6 months x 13% interest)
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= $25,473 gross profit (doesn't include taxes or renovation costs)