Gallic and Johnson Financial

About Gallic and Johnson Financial

Gallic and Johnson Financial is an Eugene, OR based private lender who provides loans in Oregon. They provide hard money construction loans, hard money loans for commercial properties, loans for investments properties, and fix-and-flip loans. They provide terms between 12 months and 24 months and loans with a maximum LTV of 70%. They make loans on most property types, including single family residences, multi family residences, apartment buildings, offices, retail units, hotels and motels, storage facilities, assisted living facilities, mixed use, warehouses, industrial facilities, medical offices, and raw land.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land

Areas Served: OR

Licenses: NMLS# 196864

Lending Guidelines for Gallic and Johnson Financial

Below are the general loan guidelines published on the Gallic and Johnson Financial 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 Gallic and Johnson Financial.

Loan Example 1

Henry closes on a $380,000 renovation project in Portland, OR, using a hard money loan from Gallic and Johnson Financial. Because the lender agrees to a 65% loan to value, Henry will have to put 35% down so the principle amount of the note will be $247,000. The loan also has the following features: 1) a 18 month term, 2) a 14% interest only note, and 3) a three percent origination charge.

In accordance with the terms of the deal, Henry will need to pay a $7,410 origination fee plus 35% of the sales price, or $133,000, since there is a 65% LTV. The monthly interest only payments will then be $2,882 to Gallic and Johnson Financial. If Henry sells the house for $494,000 after 18 months, he would realize a gross profit of $54,720 after subtracting the principle amount of $247,000, the cash paid at closing of $133,000, the origination fee of $7,410, and the aggregate interest payments of $51,870. This gross profit does not account for remodeling costs.

Loan Example 2

Lorene finds a duplex in Portland, OR to rehab and re-sell. Because she does not have enough cash to buy the property outright, she takes a fix and flip loan from Gallic and Johnson Financial with the following parameters:

$230,000 purchase price
75% loan to value (LTV)
18 month term
8% rate of interest
3% origination fee

Assuming a $276,000 sales price at the end of the 18 month term, the final numbers for the project would look like this:

$276,000 sales price
- $172,500 note principle (75% LTV)
- $57,500 cash paid at closing (25% on 75% LTV)
- $5,175 origination fee (3% of the $172,500 principle amount)
- $20,700 total interest paid (18 months x 8% interest)
-----------------------
= $20,125 gross profit (does not include taxes or renovation costs)

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