Continental Finance Corporation

About Continental Finance Corporation

Continental Finance Corporation is private lender headquartered in New York, NY. They offer funding in New York City. They provide lending solutions for many different situations and needs, including new construction loans, loans for rental properties, commercial hard money loans, hard money bridge loans, and fix and flip hard money loans. They make loans on many types of properties, including multi family, apartments, offices, retail storefronts, hotels, storage facilities, assisted living facilities, mixed use spaces, warehouses, industrial facilities, and medical buildings.

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

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

Areas Served: New York City

Lending Guidelines for Continental Finance Corporation

Below are the general loan guidelines published on the Continental Finance Corporation 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 Continental Finance Corporation.

Loan Example 1

Douglas is a real estate investor in Cos Cob, CT. He finds a run-down property and wants to renovate it and sell it for a profit. The property costs $260,000 but he doesn't have the full amount so he obtains a private money loan with Continental Finance Corporation. The terms of the note include a 80% loan to value (LTV), so he must bring 20% of the price as cash at closing, which makes the principle loan amount $208,000. The loan is interest only, with monthly payments, and is for 12 months at 12% interest with 2 origination points to be paid when the deal closes.

According to the parameters of the note, Douglas will have to contribute a $4,160 origination fee plus 20% of the sales price, or $52,000, based on the 80% LTV. After the deal is executed and Douglas takes over the project, he will have to begin making monthly payments of $2,080 to Continental Finance Corporation ($208,000 principle x 12% / 12 months). If Douglas meets his goal of a $390,000 total sales price at the end of the loan term, he would collect a gross profit of $100,880 after repaying the principle amount and deducting the cash he brought to closing, the origination fee, and the monthly interest payments.

Loan Example 2

Rene takes out a loan from Continental Finance Corporation in order to rehab a house to flip in Cos Cob, CT. The deal has the following parameters:

a) A $270,000 sales price, b) a 85% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 4% origination fee.

If Rene accomplishes his goal of a $324,000 sales price, the numbers of the project will be the following:

$324,000 sales price
- $229,500 note principle (85% LTV)
- $40,500 down payment (15% on 85% LTV)
- $9,180 origination points (4% of the $229,500 principle amount)
- $22,950 interest payments (12 months x 10% interest)
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= $21,870 total profit (doesn't include taxes or renovation costs)

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