Island View Private Loan Fund

About Island View Private Loan Fund

Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US. They offer lending solutions for a variety of situations and needs, including fix and flip hard money loans, ground up construction loans, loans for rental properties, and short term bridge loans. They offer terms between 6 months and 24 months, loan amounts ranging from $50,000 to $5,000,000 with a maximum LTV of 75%, and rates starting at 10.5% . The focus of their loans is for single family units and multi-family.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, New Construction Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: AK, AL, AR, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MO, MS, MT, NC, NE, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, VA, WA, WI, WV, WY

Lending Guidelines for Island View Private Loan Fund

Below are the general loan guidelines published on the Island View Private Loan Fund 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 Island View Private Loan Fund.

Loan Example 1

Ian closes on a $230,000 rehab project in Houston, TX, using a fix and flip loan from Island View Private Loan Fund. The loan-to-value (LTV) on the note is 70%. This means that Ian will have to bring 30% of the purchase price to closing and the principle amount will be $161,000 on the loan. The interest rate on the note is 12% for a term of 6 months and the lender requires a five point origination fee at the close. The interest payments are to be paid on a monthly basis and the principle amount will be paid back after the property sells.

Therefore, the borrower will be required to contribute a $69,000 down payment in addition to paying a $8,050 origination fee. After the loan is executed and Ian takes over the project, he will need to begin making payments each month of $1,610 to Island View Private Loan Fund ($161,000 principle x 12% / 12 months). If Ian sells the house for $299,000 after 6 months, he would then make a gross profit of $51,290 after subtracting the original principle of $161,000, the funds contributed at the close of $69,000, the origination points of $8,050, and the total interest payments of $9,660. This amount does not include rehab costs.

Loan Example 2

Chelsea takes out a fix and flip loan from Island View Private Loan Fund in order to rehab a townhome to re-sell in Houston, TX. The loan has the following terms:

$260,000 purchase price
65% loan to value (LTV)
18 month term
12% rate of interest
4% origination fee

Chelsea intends to sell the project when the note expires for $325,000. If she achieves this goal, the deal numbers will be the following:

$325,000 sales price
- $169,000 principle on note (65% LTV)
- $91,000 cash paid at closing (35% on 65% LTV)
- $6,760 origination points (4% of the $169,000 principle)
- $30,420 interest payments (18 months x 12% interest)
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= $27,820 total profit (does not include taxes or rehab costs)

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