BinaNat Capital
2204 Sawgrass Village Drive
Ponte Vedra Beach, FL 32082
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About BinaNat Capital
BinaNat Capital is an asset-based lender in Ponte Vedra Beach, FL providing loans in Georgia and Florida. They offer loans for a variety of situations and needs, including fix and flip hard money loans and hard money loans for commercial properties. They offer terms up to 6 months, loan amounts ranging from $10,000 to $1,000,000 with a maximum LTV of 65%, and rates from 15%. They lend money to any borrower based on the property value and do not require a minimum FICO score. They primarily make loans on single family homes and multi-family.
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Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family
Areas Served: GA, FL
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Lending Guidelines for BinaNat Capital
Below are the general loan guidelines published on the BinaNat Capital website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: $10,000 - $1,000,000
Available Rates: 15%
Typical Terms: 6 months
Points Charged: 5% - 7%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: NO
Time to Close: 5 - 7 DaysCommercial Hard Money Loans
Loan Amounts: $10,000 - $1,000,000
Available Rates: 15%
Typical Terms: 6 months
Points Charged: 5% - 7%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: NO
Time to Close: 5 - 7 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by BinaNat Capital.
Loan Example 1
BinaNat Capital makes a private money loan to Nichole for a renovation project in Miami, FL, on a house that is listed for $180,000. Because the lender agrees to a 65% loan-to-value, Nichole will have to put 35% down and the amount of the note will be $117,000. The loan also has these features: 1) a 6 month term, 2) a 10% interest only note, and 3) a four point origination charge.
The borrower must contribute a total of $32,400 up front to pay the $63,000 down payment in addition to the $4,680 origination fee. she must then pay $975 per month to the lender. If Nichole sells the property for $234,000 after 6 months, she would then earn a total profit of $43,470 after subtracting the principle of $117,000, the funds paid at the close of $63,000, the origination points of $4,680, and the aggregate interest payments of $5,850. This amount does not include renovation costs.
Loan Example 2
Jessie takes out a private money loan from BinaNat Capital so she can remodel a townhouse to re-sell in Miami, FL. The deal has the following parameters:
a) A $200,000 purchase price, b) a 85% loan to value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 2% origination fee.
After the renovation project is complete, if Jessie sells the property for $290,000, the numbers would be as follows:
$290,000 sales price
- $170,000 principle on note (85% LTV)
- $30,000 down payment (15% on 85% LTV)
- $3,400 origination fee (2% of the $170,000 principle amount)
- $25,500 interest payments (18 months x 10% interest)
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= $61,100 total profit (does not include taxes or rehab costs) -
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