EZ Money Lending Co

About EZ Money Lending Co

Based in Baltimore, MD, EZ Money Lending Co is an asset-based lender offering funding in 9 states across the US. They offer lending solutions for a variety of situations, including private commercial loans and fix-and-flip hard money loans. They issue terms up to 1 year and rates ranging between 12% and 15%. They primarily provide funding on single family homes and multi family residences.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family

Areas Served: NY, PA, IL, MI, FL, OH, NJ, IN, MD

Lending Guidelines for EZ Money Lending Co

Below are the general loan guidelines published on the EZ Money Lending Co 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 EZ Money Lending Co.

Loan Example 1

Jacqueline closes on a $270,000 renovation project in Chicago, IL, using a fix and flip loan from EZ Money Lending Co. The terms of the loan include a 80% loan to value (LTV), so she must contribute 20% of the price as cash at closing, which makes the principle note amount $216,000. The terms of the note also stipulate a four point origination fee that is to be paid at the closing and a 18 month, interest-only note with a 12% interest rate.

The borrower will have to contribute a total of $32,400 up front to cover the $54,000 down payment in addition to the $8,640 origination fee. The monthly interest-only payments will then be $2,160 to EZ Money Lending Co. Jacqueline's intention is to complete the renovation within the 18 months and re-sell it for $364,500. If she succeeds she will make a gross profit of $46,980 ($364,500 sales price - $216,000 principle amount - $54,000 cash at closing - $8,640 origination points - $38,880 in total interest.

Loan Example 2

Lorraine finds a property in Chicago, IL to renovate and re-sell. Because she does not have enough cash to buy the property outright, she takes a fix and flip loan from EZ Money Lending Co with the following parameters:

$160,000 sales price
70% loan to value (LTV)
18 month term
13% interest rate
5% origination fee

Based on a $208,000 sales price at the end of the 18 month term, the numbers for this project would look like this:

$208,000 sales price
- $112,000 loan principle (70% LTV)
- $48,000 cash paid at closing (30% on 70% LTV)
- $5,600 origination points (5% of the $112,000 principle amount)
- $21,840 interest payments (18 months x 13% interest)
-----------------------
= $20,560 total profit (does not include taxes or renovation costs)

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