Gauntlet Funding

About Gauntlet Funding

Gauntlet Funding is private lender headquartered in Melville, NY. They provide loans in New York City. They offer private commercial loans, rental property loans, and fix and flip hard money loans. The focus of their lending is on single family residences, multi family, and apartments.

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

Property Types Covered: Single Family, Multi Family, Apartment

Areas Served: New York City, Suffolk County, Nassau County, Westchester County

Lending Guidelines for Gauntlet Funding

Below are the general loan guidelines published on the Gauntlet Funding 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 Gauntlet Funding.

Loan Example 1

Russell takes a hard money loan from Gauntlet Funding in order to remodel a townhouse to flip in Cos Cob, CT. The list price of the property is $300,000. The terms of the deal include a 85% loan to value (LTV), so he must bring 15% of the price as cash at closing, which makes the principle loan amount $255,000. The deal also has the following features: 1) a 18 month term, 2) a 9% interest only note, and 3) a five percent origination charge.

Accordingly, the borrower will have to contribute a $45,000 down payment plus pay a $12,750 origination fee. Gauntlet Funding will collect $1,913 in monthly interest payments from the borrower. This is computed by taking the full loan value of $255,000, multiplying that by the 9% interest rate, and then dividing that amount by 12. If he sells the remodeled house for $420,000 at the end of the 18 month term, his total profit (not accounting for renovation expenses) would be $72,825. This is computed by taking the sales price ($420,000) and subtracting the original principle ($255,000), the origination cost ($12,750), the cash he contributed to closing ($45,000), and the total interest payments ($34,425).

Loan Example 2

Ethel takes a loan from Gauntlet Funding in order to remodel a property to flip in Cos Cob, CT. The loan has the following terms:

$400,000 purchase price
50% loan to value (LTV)
6 month term
11% rate of interest
1% origination fee

If Ethel accomplishes her goal of a $540,000 sales price, the outcome of the project will be the following:

$540,000 sales price
- $200,000 principle (50% LTV)
- $200,000 down payment (50% on 50% LTV)
- $2,000 origination fee (1% of the $200,000 principle amount)
- $11,000 total interest paid (6 months x 11% interest)
-----------------------
= $127,000 total profit (doesn't include taxes or rehab costs)

No Reviews Yet

Gauntlet Funding currently has no reviews. To add a review now, click the link below:

Write a Review for Gauntlet Funding