Clearwater Mortgage

About Clearwater Mortgage

Clearwater Mortgage is a private money lender headquartered in Clearwater, FL offering funding in Clearwater. They provide buy and hold loans, hard money bridge loans, commercial hard money loans, and fix-and-flip loans. They lend funds to any borrower based on the value of the property and not on a minimum FICO score. They primarily offer loans on single family.

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

Property Types Covered: Single Family

Areas Served: Clearwater

Licenses: Company NMLS# 921372, MLO NMLS# 28979

Lending Guidelines for Clearwater Mortgage

Below are the general loan guidelines published on the Clearwater Mortgage 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 Clearwater Mortgage.

Loan Example 1

Joe takes a fix and flip loan from Clearwater Mortgage in order to rehab a house to resale in Clearwater, FL. The sales price of the house is $250,000. The lender agrees to write a note with a 85% loan to value (LTV) so they are willing to loan $212,500 on the house. The rate on the loan is 12% for a term of 12 months and the lender requires a five point origination fee at the closing. The interest is to be paid monthly and the principle amount will be returned after the sale of the property.

By the parameters of the loan, Joe will have to contribute a $10,625 origination fee plus 15% of the sales price, or $37,500, based on the 85% LTV. After the loan closes, he will pay Clearwater Mortgage $2,125 in monthly interest payments, or 12% multiplied by $212,500 divided by 12 months in a year. Joe's plan is to finish the house within the 12 months and sell it for $375,000. If he succeeds he will make a gross profit of $88,875 ($375,000 sales price - $212,500 principle amount - $37,500 down payment - $10,625 origination fee - $25,500 in interest.

Loan Example 2

Paul takes out a fix and flip loan from Clearwater Mortgage in order to renovate a property to re-sell in Clearwater, FL. The loan has the following terms:

$380,000 sales price
50% loan-to-value (LTV)
12 month term
10% interest rate
1% origination fee

If Paul achieves his goal of a $456,000 sales price, the outcome of the project would be as follows:

$456,000 sales price
- $190,000 note principle (50% LTV)
- $190,000 down payment (50% on 50% LTV)
- $1,900 origination fee (1% of the $190,000 principle)
- $19,000 total interest paid (12 months x 10% interest)
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= $55,100 total profit (does not include taxes or rehab costs)