CSI Mortgage Corporation

About CSI Mortgage Corporation

CSI Mortgage Corporation is hard money lender based in Scottsale, AZ. They offer loans in Arizona. They offer lending solutions for many different needs and situations, including rental property loans, commercial hard money loans, and fix-and-flip loans. They issue loans with a maximum LTV of 80%. They make loans on all of the following property types: single family, multi family, apartments, offices, mixed use buildings, retail units, warehouse spaces, storage facilities, and industrial buildings.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Mixed Use, Retail, Warehouse, Storage, Industrial

Areas Served: AZ

Licenses: Arizona Mortgage Broker License MB-0911216, NMLS-142244

Lending Guidelines for CSI Mortgage Corporation

Below are the general loan guidelines published on the CSI Mortgage 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 CSI Mortgage Corporation.

Loan Example 1

Dorthy is a real estate investor in Phoenix, AZ. She discovers an older property and decides to rehab it and sell it for a profit. The property costs $310,000 but she does not have the full amount so she takes out a hard money loan with CSI Mortgage Corporation. The loan to value (LTV) on the loan is 55%. This means that Dorthy will bring 45% of the purchase price to the closing and the principle amount will be $170,500 on the loan. The rate on the loan is 13% for a length of 18 months and the company requires a three point origination fee at the close. The interest payments are to be paid on a monthly basis and the principle amount will be repaid after the sale of the property.

The borrower must contribute a total of $32,400 upon closing to pay the $139,500 down payment plus the $5,115 origination fee. Once the deal is closed and Dorthy takes over the project, she will begin making monthly payments of $1,847 to the lender ($170,500 principle x 13% / 12 months). If Dorthy achieves her goal of a $449,500 total sales price when the loan expires, she would earn a total profit of $101,138 after repaying the principle and subtracting the money she paid at closing, the origination points, and the monthly interest payments.

Loan Example 2

Claude locates a townhouse in Phoenix, AZ to rehab and resell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from CSI Mortgage Corporation with the following parameters:

a) A $260,000 purchase price, b) a 65% loan-to-value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 5% origination fee.

Based on a $325,000 sales price after the 12 month term, the final numbers for the deal would look like this:

$325,000 sales price
- $169,000 loan principle (65% LTV)
- $91,000 down payment (35% on 65% LTV)
- $8,450 origination fee (5% of the $169,000 principle)
- $20,280 interest payments (12 months x 12% interest)
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= $36,270 gross profit (does not include taxes or rehab costs)