Galloway Lending

About Galloway Lending

Galloway Lending is a Golden, CO based hard money lender. They offer loans throughout San Francisco, San Jose, Oakland, Los Angeles, San Diego, and Denver. They offer lending solutions for many different scenarios, including hard money loans for commercial properties and fix-and-flip loans. Their loan parameters are flexible, including loan amounts ranging from $250,000 to $3,000,000 with a maximum LTV of 80%, rates ranging between 8% and 12%, and terms between 3 months and 2 years. The focus of their loans is for single family residences, multi-family, and apartments.

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

Property Types Covered: Single Family, Multi Family, Apartment

Areas Served: San Francisco, San Jose, Oakland, Los Angeles, San Diego, Denver, Orange County

Lending Guidelines for Galloway Lending

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

Loan Example 1

Carolina finds a townhouse in San Francisco, CA to renovate and resell. Since she does not have enough cash available to acquire the $260,000 project outright, she decides to take out a fix-and-flip loan from Galloway Lending. The loan to value (LTV) on the deal is 60%. This means that Carolina will bring 40% of the purchase price to the closing and the principle amount will be $156,000 on the loan. The rate on the note is 12% for a length of 12 months and the company requires a four point origination fee at closing. The interest payments are to be paid on a monthly basis and the principle will be paid back after the property sells.

On top of the $6,240 origination fee, Carolina will also need to fund $104,000 of the purchase with her own money, or 40% of the purchase price. After the deal closes, she will have to pay Galloway Lending $1,560 in monthly interest payments, or 12% times $156,000 divided by 12 months in the year. Assuming Carolina sells the renovated house for $364,000 at the end of the 12 month term, her gross profit (not including rehab expenses) would be $79,040. This is computed by taking the sales price ($364,000) and subtracting the principle ($156,000), the origination fee ($6,240), the funds she brought to closing ($104,000), and the total interest payments ($18,720).

Loan Example 2

Zachary locates a house in San Francisco, CA to renovate and sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Galloway Lending with the following parameters:

$250,000 sales price
70% loan to value (LTV)
6 month term
13% interest rate
4% origination fee

Assuming a $300,000 sales price at the end of the 6 month term, the outcome for this deal would look like the following:

$300,000 sales price
- $175,000 principle on note (70% LTV)
- $75,000 cash paid at closing (30% on 70% LTV)
- $7,000 origination fee (4% of the $175,000 principle)
- $11,375 interest payments (6 months x 13% interest)
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= $31,625 gross profit (doesn't include taxes or renovation costs)

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