Evoque Lending

About Evoque Lending

Evoque Lending is hard money lender headquartered in Laguna Niguel, CA. They offer loans throughout California. They offer buy and hold loans, hard money refinancing, and fix-and-flip loans. They provide terms between 3 months and 7 years and loans with a maximum LTV of 65%. Their lending guidelines do not include a minimum FICO rating. They primarily make loans for single family homes and multi family.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family, Multi Family

Areas Served: CA

Licenses: Evoque Lending is Licensed by the Department of Real Estate License # 01521538, NMLS # 337415

Lending Guidelines for Evoque Lending

Below are the general loan guidelines published on the Evoque Lending 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 Evoque Lending.

Loan Example 1

Troy finds a condo in Los Angeles, CA to remodel and resell. Since he does not have enough cash to purchase the $340,000 project outright, he takes out a hard money loan from Evoque Lending. The borrower will be required to contribute 35% of the sales price in cash to closing based on a 65% loan to value set by the lending company. This makes the principle amount from Evoque Lending $221,000. The parameters of the loan also include a three point origination fee which will be paid at closing and a 12 month, interest-only note with a 10% rate of interest.

According to the terms of the note, Troy will need to contribute a $6,630 origination fee plus 35% of the sales price, or $119,000, since there is a 65% LTV. The monthly interest-only payments will then total $1,842 to Evoque Lending. Troy's plan is to complete the remodel within the 12 months and resell it for $510,000. If he succeeds he will earn a total profit of $141,270 ($510,000 sales price - $221,000 principle - $119,000 cash at closing - $6,630 origination fee - $22,100 in interest.

Loan Example 2

Evoque Lending makes a private money loan to Roberto for a rehab project in Los Angeles, CA. The loan dictates the following:

$300,000 sales price
85% loan to value (LTV)
18 month term
12% interest rate
1% origination fee

Roberto plans to sell the property at the end of the term for $405,000. If he achieves this goal, the outcome would be as follows:

$405,000 sales price
- $255,000 principle (85% LTV)
- $45,000 cash paid at closing (15% on 85% LTV)
- $2,550 origination points (1% of the $255,000 principle amount)
- $45,900 total interest paid (18 months x 12% interest)
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= $56,550 total profit (doesn't include taxes or rehab costs)