Good Funds Lending

About Good Funds Lending

Good Funds Lending is a Littleton, CO based hard money lender providing loans throughout Denver, Boulder, and Colorado Springs. They offer lending solutions for many different needs and situations, including short term fix and flip loans, hard money bridge loans, and hard money loans for commercial properties. They issue loan amounts ranging from $80,000 to $650,000 with a maximum LTV of 70%, terms up to 6 months, and rates from 12%. They provide loans on many types of properties, including single family, multi family residences, apartments, office buildings, retail units, storage buildings, and mixed use spaces.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Storage, Mixed Use

Areas Served: Denver, Boulder, Colorado Springs

Lending Guidelines for Good Funds Lending

Below are the general loan guidelines published on the Good Funds 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 Good Funds Lending.

Loan Example 1

Jodi closes on a $250,000 renovation project in Denver, CO, using a fix-and-flip loan from Good Funds Lending. The borrower will have to bring 15% of the sales price in cash to closing based on a 85% loan-to-value set by the lending company. This makes the principle note from Good Funds Lending $212,500. The note is interest-only, with monthly payments, and is for 6 months at 14% interest with 5 origination points to be paid at closing.

By the parameters of the loan, Jodi will need to pay a $10,625 origination fee plus 15% of the sales price, or $37,500, based on the 85% LTV. The lender will collect $2,479 in monthly interest from the Jodi. This is calculated by taking the total note amount of $212,500, multiplying that by the 14% interest rate, and then dividing that number by 12. If Jodi accomplishes her goal of a $300,000 sales price at the end of the loan term, she would collect a gross profit of $24,500 after repaying the principle and deducting the money she contributed at closing, the origination fee, and the total interest payments.

Loan Example 2

Hillary takes a loan from Good Funds Lending so she can rehab a townhome to flip in Denver, CO. The loan has the following terms:

a) A $230,000 sales price, b) a 55% loan-to-value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 1% origination fee.

After the rehab project is finished, if Hillary sells the property for $333,500, the final numbers would be as follows:

$333,500 sales price
- $126,500 loan principle (55% LTV)
- $103,500 down payment (45% on 55% LTV)
- $1,265 origination points (1% of the $126,500 principle amount)
- $15,180 total interest paid (18 months x 8% interest)
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= $87,055 gross profit (does not include taxes or rehab costs)

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