Century Capital Finance

About Century Capital Finance

Based in Rochelle Park, NJ, Century Capital Finance is a private lender providing loans in New Jersey and New York. They provide hard money bridge loans, hard money construction loans, hard money loans for commercial properties, and fix-and-flip loans. They provide loan amounts ranging from $300,000 to $10,000,000 with a maximum LTV of 65%, rates starting at 10.5% , and terms between 1 year and 3 years. They make loans on many types of properties, including single family units, multi family, apartments, office buildings, retail units, hotels, storage buildings, senior facilities, mixed use spaces, warehouse spaces, industrial facilities, medical buildings, and undeveloped land.

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

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

Areas Served: NJ, NY

Lending Guidelines for Century Capital Finance

Below are the general loan guidelines published on the Century Capital Finance 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 Century Capital Finance.

Loan Example 1

Nina finds a townhouse in Brooklyn, NY to renovate and re-sell. Since she doesn't have enough cash available to purchase the $180,000 project outright, she takes out a hard money loan from Century Capital Finance. The terms of the note include a 50% loan-to-value (LTV), so she must contribute 50% of the price as cash at closing, making the principle note amount $90,000. The note is interest only, with monthly payments, and is for 6 months at 9% interest with 5 origination points to be paid at the closing.

According to the parameters of the note, Nina will be required to contribute a $4,500 origination fee plus 50% of the purchase price, or $90,000, based on the 50% LTV. she will then pay $675 per month to the lender. At the end of the note, she sells the renovated house for $243,000. After subtracting the $4,050 in interest expenses ($675 times 6 months), the $4,500 origination fee, the $90,000 principle amount on the note, and the $90,000 she brought to closing, she will make a gross profit of $54,450 ($243,000 sales price minus $188,550 in costs). This profit would then be reduced by any rehab costs paid by the borrow.

Loan Example 2

Derek takes a fix and flip loan from Century Capital Finance in order to remodel a house to flip in Brooklyn, NY. The deal has the following parameters:

$210,000 sales price
65% loan-to-value (LTV)
12 month term
11% rate of interest
4% origination fee

After the renovation project is complete, if Derek sells the house for $283,500, the numbers would be the following:

$283,500 sales price
- $136,500 principle (65% LTV)
- $73,500 cash paid at closing (35% on 65% LTV)
- $5,460 origination points (4% of the $136,500 principle amount)
- $15,015 total interest paid (12 months x 11% interest)
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= $53,025 total profit (does not include taxes or rehab costs)