Center Street Lending

About Center Street Lending

Center Street Lending is a private lender headquartered in Irvine, CA offering loans in 13 states throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ground-up construction loans. We offer loan amounts ranging from $100,000 to $5,000,000 with a maximum LTC up to of 85% depending on loan product and experience. Brokers clients always protected. Our focus is on building long term relationship and providing smarter loans for residential investors.

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

Property Types Covered: Single Family, Multi Family

Areas Served: AZ, CA, WA, CO, TX, FL, TN, MD, VA, NC, DC

Licenses: CA Bureau of Real Estate - License #01883377, NMLS 905781

Lending Guidelines for Center Street Lending

Below are the general loan guidelines published on the Center Street Lending 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 Center Street Lending.

Loan Example 1

Johnny closes on a $280,000 renovation project in Houston, TX, using a fix and flip loan from Center Street Lending. The borrower will have to contribute 25% of the purchase price in cash to closing based on a 75% loan-to-value stipulated by the lender. This makes the principle amount from Center Street Lending $210,000. The rate on the loan is 9% for a length of 6 months and the lender requires a five point origination fee at closing. The interest payments are to be paid on a monthly basis and the principle will be repaid after the property sells.

Johnny will need to contribute $70,000 at closing (25% on the 75% LTV), plus he will pay the $10,500 origination fee. The monthly interest-only payments will then total $1,575 to Center Street Lending. Johnny's plan is to complete the project by the end of the 6 months and resell it for $364,000. If he succeeds he will collect a gross profit of $64,050 ($364,000 price - $210,000 principle amount - $70,000 cash paid at closing - $10,500 origination points - $9,450 in total interest.

Loan Example 2

Erik finds a duplex in Houston, TX to rehab and re-sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Center Street Lending with the following parameters:

$250,000 sales price
80% loan to value (LTV)
18 month term
9% interest rate
2% origination fee

Once the renovation project is complete, if Erik sells the house for $362,500, the outcome would be as follows:

$362,500 sales price
- $200,000 principle on note (80% LTV)
- $50,000 down payment (20% on 80% LTV)
- $4,000 origination fee (2% of the $200,000 principle amount)
- $27,000 total interest paid (18 months x 9% interest)
-----------------------
= $81,500 gross profit (doesn't include taxes or rehab costs)