Legacy Private Funding

About Legacy Private Funding

Legacy Private Funding is a private money lender headquartered in Claremont, CA offering loans throughout Orange County. They provide hard money loans for commercial properties, fix and flip hard money loans, and loans for rental properties. Their lending guidelines are flexible, including rates starting at 7.99% . The focus of their loans is on single family units and multi family residences.

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

Property Types Covered: Single Family, Multi Family

Areas Served: Orange County

Lending Guidelines for Legacy Private Funding

Below are the general loan guidelines published on the Legacy Private 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 Legacy Private Funding.

Loan Example 1

Ivan closes on a $330,000 renovation project in Anaheim, CA, using a fix-and-flip loan from Legacy Private Funding. The lender agrees to make a loan with a 50% loan to value (LTV) so they are willing to loan $165,000 on the property. The rate on the note is 13% for a length of 18 months and the lender requires a four point origination fee at closing. The interest is to be paid on a monthly basis and the principle amount will be repaid after the property sells.

Ivan will need to bring $165,000 at closing (50% on the 50% LTV), plus he will pay the $6,600 origination fee. The monthly interest-only payments will then total $1,788 to the lender. At the expiration of the loan, he sells the rehabed property for $478,500. After deducting the $32,175 in interest payments ($1,788 times 18 months), the $6,600 origination fee, the $165,000 principle amount on the loan, and the $165,000 he contributed to closing, he will earn a total profit of $109,725 ($478,500 price minus $368,775 in costs). This profit would be reduced by any building costs paid by Ivan.

Loan Example 2

Deloris finds a duplex in Anaheim, CA to rehab and re-sell. Because she does not have enough cash to buy the property outright, she takes a fix and flip loan from Legacy Private Funding with the following parameters:

a) A $350,000 sales price, b) a 80% loan to value (LTV), c) a 12 month term, d) a 13% interest rate, and e) a 2% origination fee.

Deloris intends to sell the property at the end of the term for $455,000. If she accomplishes her goal, the final numbers will be as follows:

$455,000 sales price
- $280,000 principle on note (80% LTV)
- $70,000 cash paid at closing (20% on 80% LTV)
- $5,600 origination fee (2% of the $280,000 principle amount)
- $36,400 interest payments (12 months x 13% interest)
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= $63,000 total profit (does not include taxes or rehab costs)

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