BradLoans

About BradLoans

Based in Scottsdale, AZ, BradLoans is a private money lender providing funding in Arizona. They offer lending solutions for many different scenarios, including buy and hold loans, private refinancing, and fix-and-flip loans. They issue loans with a maximum LTV of 70%, rates starting at 14.99%, and terms up to 12 months. They do not require their borrowers to have a minimum credit rating to receive a loan. They will consider varying lending requests but mainly focus on single family residences and multi family residences.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family, Multi Family

Areas Served: AZ

Licenses: MB-0903436

Lending Guidelines for BradLoans

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

Loan Example 1

Greta closes on a $150,000 rehab project in Phoenix, AZ, using a hard money loan from BradLoans. The borrower will be required to contribute 30% of the purchase price in cash to the closing based on a 70% loan-to-value stipulated by the lender. This makes the principle note from BradLoans $105,000. The loan also has the following features: 1) a 12 month term, 2) a 14% interest only note, and 3) a five percent origination fee.

Greta will need to contribute $45,000 at closing (30% on the 70% loan-to-value), plus she will pay the $5,250 origination fee. After the loan is executed and Greta takes on the property, she will have to begin making monthly payments of $1,225 to BradLoans ($105,000 principle x 14% / 12 months). Greta's plan is to complete the project by the end of the 12 months and sell it for $210,000. If she succeeds she will make a profit of $40,050 ($210,000 sales price - $105,000 principle - $45,000 cash at closing - $5,250 origination fee - $14,700 in total interest payments.

Loan Example 2

Jimmie is a an investor in Phoenix, AZ. He finds a run-down townhouse for a remodeling project and takes a private money loan from BradLoans with the following terms:

$400,000 sales price
75% loan to value (LTV)
18 month term
13% interest rate
5% origination fee

Based on a $520,000 sales price at the end of the 18 month term, the final numbers for the deal would look like the following:

$520,000 sales price
- $300,000 principle (75% LTV)
- $100,000 down payment (25% on 75% LTV)
- $15,000 origination points (5% of the $300,000 principle)
- $58,500 total interest paid (18 months x 13% interest)
-----------------------
= $46,500 total profit (does not include taxes or rehab costs)