EquityMax

About EquityMax

EquityMax is a private money lender headquartered in Fort Lauderdale, FL providing funding in Florida. They provide buy and hold loans, hard money bridge loans, fix-and-flip hard money loans, refinancing, and commercial loans. Their lending guidelines are flexible, including terms up to 204 months, rates ranging between 10% and 15%, and loan amounts ranging from $15,000 to $1,000,000 with a maximum LTV of 80%. They do not require a minimum FICO score to receive a loan. They offer loans on the following property types: single family units, multi family residences, office buildings, retail spaces, industrial facilities, and raw land.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial, Land

Areas Served: FL

Licenses: NMLS #1523517

Lending Guidelines for EquityMax

Below are the general loan guidelines published on the EquityMax 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 EquityMax.

Loan Example 1

Sam finds a duplex in Miami, FL to flip and re-sell. Since he doesn't have enough cash available to acquire the $310,000 house outright, he takes out a fix-and-flip loan from EquityMax. The borrower will have to bring 20% of the purchase price in cash to closing based on a 80% loan-to-value set by the lender. This makes the principle amount from EquityMax $248,000. The parameters of the loan dictate a 9% note for 12 months. They also stipulate a 2 point origination fee, which will also have to be paid at closing.

Sam will have to bring $62,000 to closing (20% on the 80% loan-to-value), plus he will have to pay the $4,960 origination fee. After the loan is executed and Sam takes on the project, he will need to begin making payments each month of $1,860 to the lender ($248,000 principle x 9% / 12 months). At the end of the loan, he sells the rehabed house for $418,500. After deducting the $22,320 in interest payments ($1,860 times 12 months), the $4,960 origination fee, the $248,000 principle on the loan, and the $62,000 he brought to closing, he will make a gross profit of $81,220 ($418,500 price minus $337,280 in costs). This profit would then be reduced by any rehab costs paid out of pocket.

Loan Example 2

Kevin locates a townhouse in Miami, FL to renovate and re-sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from EquityMax with the following parameters:

$380,000 sales price
55% loan to value (LTV)
6 month term
10% interest rate
3% origination fee

Kevin intends to list the project at the end of the term for $551,000. If he succeeds, the deal numbers would be as follows:

$551,000 sales price
- $209,000 principle on note (55% LTV)
- $171,000 down payment (45% on 55% LTV)
- $6,270 origination fee (3% of the $209,000 principle amount)
- $10,450 interest payments (6 months x 10% interest)
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= $154,280 gross profit (doesn't include taxes or rehab costs)

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