JMAC Funding

About JMAC Funding

JMAC Funding is a San Diego, CA based hard money lender offering loans in California. They offer fix and flip hard money loans, bridge loans, hard money loans for commercial properties, and investment property loans. Their loan parameters are flexible, including rates ranging between 11% and 13%, terms between 12 months and 36 months, and loan amounts ranging from $30,000 to $1,000,000 with a maximum LTV of 75%. They do not require their borrowers to have a minimum FICO rating to obtain a loan. They offer loans on various property types, including single family homes, multi family residences, apartment buildings, office buildings, retail spaces, hotels/motels, storage buildings, senior housing communities, mixed use spaces, undeveloped land, churches, warehouse buildings, industrial facilities, and medical facilities.

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

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

Areas Served: CA

Licenses: California Department of Real Estate, DRE# 01440161

Lending Guidelines for JMAC Funding

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

Loan Example 1

Todd closes on a $350,000 rehab project in Los Angeles, CA, using a fix and flip loan from JMAC Funding. The terms of the note include a 50% loan to value (LTV), so he must contribute 50% of the price as cash at closing, which makes the principle loan amount $175,000. The loan is interest only, paid monthly, and is for 6 months at 8% interest with 5 points to be paid at closing.

According to the terms of the note, Todd will have to contribute a $8,750 origination fee plus 50% of the purchase price, or $175,000, since there is a 50% LTV. The monthly interest only payments will then total $1,167 to JMAC Funding. If Todd sells the project for $525,000 after 6 months, he would make a gross profit of $159,250 after subtracting the principle of $175,000, the funds contributed at closing of $175,000, the origination fee of $8,750, and the total interest payments of $7,000. This profit doesn't account for rehab costs.

Loan Example 2

Franklin takes out a private money loan from JMAC Funding so he can renovate a house to flip in Los Angeles, CA. The loan has the following parameters:

$390,000 purchase price
85% loan to value (LTV)
18 month term
8% interest rate
3% origination fee

Assuming a $585,000 sales price at the end of the 18 month term, the numbers for the deal would look like the following:

$585,000 sales price
- $331,500 loan principle (85% LTV)
- $58,500 down payment (15% on 85% LTV)
- $9,945 origination fee (3% of the $331,500 principle)
- $39,780 interest payments (18 months x 8% interest)
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= $145,275 gross profit (doesn't include taxes or rehab costs)

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