Empire Financial Services

About Empire Financial Services

Empire Financial Services is a Tukwilla, WA based hard money lender who offers funding in 16 states across the country. They offer lending solutions for a variety of situations, including hard money loans for commercial properties, fix and flip loans, buy and hold loans, and ground-up construction loans. They make loans on various types of properties, including multi family residences, retail units, offices, apartment buildings, industrial facilities, storage facilities, and warehouse spaces.

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

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

Areas Served: WA, OR, ID, CO, AL, FL, GA, LA, MA, MI, NJ, NM, SC, TN, TX, VA

Lending Guidelines for Empire Financial Services

Below are the general loan guidelines published on the Empire Financial Services 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 Empire Financial Services.

Loan Example 1

Bill is a house flipper in Houston, TX. He finds an older property and wants to renovate it and flip it for a profit. The house has a cost of $260,000 but he doesn't have the full amount so he takes out a fix-and-flip loan with Empire Financial Services. Since the lender sets a 70% loan to value, Bill will be required to put 30% down so the principle amount of the loan will be $182,000. The loan is interest-only, with monthly payments, and is for 18 months at 12% interest with 5 origination points paid at closing.

Accordingly, the borrower will be required to make a $78,000 down payment in addition to paying a $9,100 origination fee. The lender will collect $1,820 in monthly interest payments from the Bill. This is calculated by taking the total loan amount of $182,000, multiplying by the 12% rate of interest, and then dividing that amount by 12. At the end of the loan, he sells the renovated house for $377,000. After subtracting the $32,760 in interest payments ($1,820 multiplied times 18 months), the $9,100 origination fee, the $182,000 principle amount on the loan, and the $78,000 he brought to closing, he will make a total profit of $75,140 ($377,000 price minus $301,860 in costs). This profit would then be reduced by any building costs paid by the borrow.

Loan Example 2

Nicole takes a private money loan from Empire Financial Services in order to renovate a townhome to re-sell in Houston, TX. The loan has the following parameters:

a) A $340,000 purchase price, b) a 80% loan to value (LTV), c) a 18 month term, d) a 9% interest rate, and e) a 5% origination fee.

If Nicole succeeds in her goal of a $442,000 sales price, the outcome of the project would be as follows:

$442,000 sales price
- $272,000 principle on note (80% LTV)
- $68,000 cash paid at closing (20% on 80% LTV)
- $13,600 origination points (5% of the $272,000 principle)
- $36,720 total interest paid (18 months x 9% interest)
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= $51,680 total profit (doesn't include taxes or renovation costs)

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