Commercial Loan Express

About Commercial Loan Express

Commercial Loan Express is a Santa Barbara, CA based private money lender providing funding throughout California. They offer private refinancing, fix-and-flip loans, short term loans, and ground-up construction loans. They provide terms between 6 months and 1 year and loan amounts ranging from $50,000 to $1,000,000 with a maximum LTV of 75%. They primarily offer loans for single family units, multi family residences, and apartments.

Loan Types Offered: Fix and Flip Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment

Areas Served: CA

Licenses: State of California Bureau of Real Estate #01884973

Lending Guidelines for Commercial Loan Express

Below are the general loan guidelines published on the Commercial Loan Express 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 Commercial Loan Express.

Loan Example 1

Jonathan is a real estate investor in Los Angeles, CA. He locates a run-down property for sale and decides to renovate it and flip it for a profit. The house costs $220,000 but he doesn't have the full amount so he takes a fix and flip loan with Commercial Loan Express. The loan to value (LTV) on the note is 55%. This means Jonathan will bring 45% of the purchase price to closing and the principle amount will be $121,000 on the deal. The terms of the loan dictate a 12% note for 6 months. They also require a 2 point origination fee, which will also have to be paid at closing.

Jonathan will need to bring $99,000 to closing (45% on the 55% LTV), plus he will need to pay the $2,420 origination fee. The monthly interest-only payments will then total $1,210 to Commercial Loan Express. Jonathan's intention is to finish the house by the end of the 6 months and resell it for $275,000. If he succeeds he will collect a total profit of $45,320 ($275,000 sales price - $121,000 principle amount - $99,000 down payment - $2,420 origination fee - $7,260 in total interest payments.

Loan Example 2

Isaac locates a townhouse in Los Angeles, CA to rehab and sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Commercial Loan Express with the following parameters:

$190,000 sales price
70% loan to value (LTV)
6 month term
8% rate of interest
2% origination fee

Once the renovation project is completed, if Isaac sells the project for $285,000, the outcome would be the following:

$285,000 sales price
- $133,000 note principle (70% LTV)
- $57,000 cash paid at closing (30% on 70% LTV)
- $2,660 origination points (2% of the $133,000 principle)
- $5,320 interest payments (6 months x 8% interest)
-----------------------
= $87,020 gross profit (doesn't include taxes or renovation costs)

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