Equity Trac

About Equity Trac

Equity Trac is an Ellenton, FL based private lender providing funding throughout Sarasota County, Pinellas County, and Hillsborough County. They offer long term rental property loans and fix and flip hard money loans. They offer loan amounts starting at $50,000 and rates ranging between 9% and 15%. They primarily provide funding on single family homes and multi-family units.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans

Property Types Covered: Single Family, Multi Family

Areas Served: Sarasota County, Pinellas County, Hillsborough County

Lending Guidelines for Equity Trac

Below are the general loan guidelines published on the Equity Trac 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 Equity Trac.

Loan Example 1

Morris finds a condo in Tampa, FL to flip and resell. Since he doesn't have enough cash available to buy the $250,000 house outright, he takes out a private money loan from Equity Trac. The lender agrees to issue a loan with a 50% loan to value (LTV) so they are willing to extend $125,000 on the house. The rate on the note is 14% for a term of 6 months and the lender requires a five point origination fee at the closing. The interest payments are to be paid on a monthly basis and the principle will be paid back after the sale of the property.

By the terms of the loan, Morris will need to pay a $6,250 origination fee plus 50% of the sales price, or $125,000, since there is a 50% LTV. Once the deal closes, he will have to pay the lender $1,458 in monthly interest payments, or 14% multiplied times $125,000 divided by 12 months in a year. If Morris meets his goal of a $325,000 sales price when the loan term expires, he would make a gross profit of $60,000 after re-paying the principle and subtracting the cash he brought to closing, the origination points, and the total interest payments.

Loan Example 2

Equity Trac makes a fix and flip loan to Chris for a remodeling project in Tampa, FL. The deal includes the following:

a) A $280,000 purchase price, b) a 70% loan to value (LTV), c) a 12 month term, d) a 14% interest rate, and e) a 5% origination fee.

If Chris accomplishes her goal of a $420,000 sales price, the numbers of the deal will be the following:

$420,000 sales price
- $196,000 loan principle (70% LTV)
- $84,000 down payment (30% on 70% LTV)
- $9,800 origination fee (5% of the $196,000 principle)
- $27,440 interest payments (12 months x 14% interest)
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= $102,760 total profit (does not include taxes or rehab costs)

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