Charleston Private Lending

About Charleston Private Lending

Charleston Private Lending is a private money lender headquartered in Charletson, SC offering funding throughout Charleston. They offer buy and hold loans, private refinancing, hard money bridge loans, and fix-and-flip hard money loans. They issue loans with a maximum LTV of 80%, terms up to 12 months, and rates starting at 7% . The focus of their lending is for single family units and multi family.

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

Property Types Covered: Single Family, Multi Family

Areas Served: Charleston

Lending Guidelines for Charleston Private Lending

Below are the general loan guidelines published on the Charleston Private 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 Charleston Private Lending.

Loan Example 1

Freddie closes on a $330,000 rehab project in Charleston, SC, using a fix and flip loan from Charleston Private Lending. The terms of the note include a 60% loan to value (LTV), so he must contribute 40% of the price as cash to closing, which makes the principle note amount $198,000. The interest rate on the note is 12% for a length of 6 months and the lender requires a five point origination fee at the closing. The interest is to be paid on a monthly basis and the principle will be repaid after the property sells.

Freddie must contribute a total of $32,400 upon closing to pay the $132,000 down payment in addition to the $9,900 origination fee. The monthly interest-only payments will then total $1,980 to Charleston Private Lending. At the end of the note, he sells the renovated property for $495,000. After subtracting the $11,880 in total interest payments ($1,980 multiplied times 6 months), the $9,900 origination fee, the $198,000 principle on the note, and the $132,000 he brought to the closing, he will make a total profit of $143,220 ($495,000 price minus $351,780 in total costs). This profit would then be reduced by any rehab costs paid out of pocket.

Loan Example 2

Antonio is a an investor in Charleston, SC. He locates a run-down townhouse for a renovation project and takes out a private money loan from Charleston Private Lending with the following terms:

a) A $150,000 purchase price, b) a 60% loan-to-value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 1% origination fee.

After the rehab project is complete, if Antonio sells the property for $225,000, the numbers would be the following:

$225,000 sales price
- $90,000 loan principle (60% LTV)
- $60,000 down payment (40% on 60% LTV)
- $900 origination fee (1% of the $90,000 principle)
- $7,200 total interest paid (12 months x 8% interest)
-----------------------
= $66,900 total profit (does not include taxes or rehab costs)

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