Global Fox Financial

About Global Fox Financial

Based in McAllen, TX, Global Fox Financial is an asset-based lender providing funding in Mcallen, Brownsville, and Laredo. They provide private commercial loans, cash out hard money loans, and hard money bridge loans. They issue loan amounts ranging from $75,000 to $5,000,000 with a maximum LTV of 75% and rates starting at 7.49% . They require their borrowers to have a minimum credit score of 650 to receive a loan. They make loans on all the following types of properties: single family homes, multi family residences, apartments, office units, retail units, hotels, storage buildings, senior housing facilities, mixed use, warehouses, and industrial buildings.

Loan Types Offered: Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

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

Areas Served: McAllen, Brownsville, Laredo

Lending Guidelines for Global Fox Financial

Below are the general loan guidelines published on the Global Fox 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 Global Fox Financial.

Loan Example 1

Global Fox Financial makes a hard money loan to Elmer for the acquisition of a new retail space after he is turned down for a commercial mortgage by his bank because he has a subpar credit rating. The cost of the new building is $190,000 and the lending company agrees to contribute 55% of the purchase price (the loan to value / "LTV"), or $104,500. The other $85,500 will be paid by the borrower when the deal closes. Additionally, the lender will charge a 5 percent origination fee in addition to the 10%, 6 month term on the deal. They will not charge a pre-payment penalty if Elmer pays off the loan early. According to the terms of this deal, Elmer will have to pay origination points of $5,225 when the deal closes. He will also start making payments of $871 / month for the duration of the loan and will re-pay the principle amount at the expiration of the 6 month term. Should he decide to pay off the loan early, he can do so with no additional cost since there isn't a pre-payment penalty stipulated by the loan.

Loan Example 2

Lydia takes a bridge loan from Global Fox Financial in order to renovate a townhouse to resell in McAllen, TX. The loan has the following terms:

$210,000 purchase price
60% loan-to-value (LTV)
18 month term
8% rate of interest
3% origination fee

Based on a $283,500 sales price at the end of the 18 month term, the final numbers for this deal would look like the following:

$283,500 sales price
- $126,000 principle on note (60% LTV)
- $84,000 down payment (40% on 60% LTV)
- $3,780 origination fee (3% of the $126,000 principle amount)
- $15,120 total interest paid (18 months x 8% interest)
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= $54,600 gross profit (does not include taxes or renovation costs)

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