Evergreen Private Finance

About Evergreen Private Finance

Evergreen Private Finance is a Washington DC based private lender. They provide loans in Washington DC, Maryland, and Virginia. They offer investment property loans, hard money bridge loans, and fix-and-flip hard money loans. They issue terms between 6 months and 2 years and loan amounts up to $5,000,000 with a maximum LTV of 80%. They offer loans on all of the following types of properties: single family homes, multi family residences, apartment buildings, office buildings, retail units, and mixed use.

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

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

Areas Served: DC, MD, VA

Lending Guidelines for Evergreen Private Finance

Below are the general loan guidelines published on the Evergreen Private Finance 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 Evergreen Private Finance.

Loan Example 1

Evergreen Private Finance issues a hard money loan to Sondra for a remodeling project in Baltimore, MD, on a property that costs $380,000. The terms of the note include a 85% loan to value (LTV), so she must contribute 15% of the price as cash to closing, making the principle note amount $323,000. The rate on the loan is 13% for a term of 6 months and the lender requires a one point origination fee at the closing. The interest payments are to be paid on a monthly basis and the principle will be repaid after the sale of the property.

Sondra will need to bring a total of $32,400 up front to pay the $57,000 down payment plus the $3,230 origination fee. After the deal is closed and Sondra takes the project, she will need to begin making monthly payments of $3,499 to Evergreen Private Finance ($323,000 principle x 13% / 12 months). If she sells the rehabed project for $494,000 at the end of the 6 month term, her total profit (not including renovation expenses) would be $89,775. This is calculated by taking the purchase price ($494,000) and subtracting the principle ($323,000), the origination fee ($3,230), the funds she brought to closing ($57,000), and the total interest expenses ($20,995).

Loan Example 2

Evergreen Private Finance makes a loan to Travis for a remodeling project in Baltimore, MD. The deal includes the following:

$240,000 sales price
70% loan-to-value (LTV)
18 month term
13% rate of interest
2% origination fee

Once the renovation project is finished, if Travis sells the house for $324,000, the outcome would be the following:

$324,000 sales price
- $168,000 principle on note (70% LTV)
- $72,000 down payment (30% on 70% LTV)
- $3,360 origination fee (2% of the $168,000 principle amount)
- $32,760 total interest paid (18 months x 13% interest)
-----------------------
= $47,880 gross profit (doesn't include taxes or renovation costs)

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