Lend America Financial

About Lend America Financial

Lend America Financial is a Cutler Bay, FL based private lender who provides funding throughout Broward County, Miami-Dade County, Palm Beach County, and Monroe County. They offer cash out hard money loans and hard money loans for commercial properties. Their lending guidelines are flexible, including loan amounts ranging from $40,000 to $4,000,000 with a maximum LTV of 65%, rates ranging between 9% and 12%, and terms between 3 months and 2 years. They will lend funds to any borrower based on the value of the property and do not require a minimum credit rating. They offer loans on most property types, including multi family residences, apartment buildings, office buildings, retail units, hotels, storage facilities, assisted living facilities, mixed use, warehouses, industrial facilities, and medical facilities.

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

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

Areas Served: Broward County, Miami-Dade County, Palm Beach County, Monroe County

Lending Guidelines for Lend America Financial

Below are the general loan guidelines published on the Lend America 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 Lend America Financial.

Loan Example 1

Lend America Financial makes a private money loan to Shawn for the purchase of a new building after he is turned down for a standard loan by his bank because he has a subpar credit rating. The property costs $400,000. Shawn will need to put 40% down, or $160,000, because the lender will loan only 60% of the transaction (the loan to value or "LTV"). Accordingly, the principle amount on the deal will be $240,000. The parameters of the deal include a 6 month term, a 12% interest rate, and 4 origination points paid by Shawn at the closing. According to the terms of the loan, Shawn will need to pay origination points of $9,600 when the loan closes. He will also start to make payments of $2,400 / month throughout the duration of the note and will re-pay the principle amount at the end of the 6 month loan term. Should he decide to re-pay the note before, he can do so with no additional cost since there is not a pre-payment penalty stipulated by the loan.

Loan Example 2

Kristina finds a property in Miami, FL to remodel and re-sell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Lend America Financial with the following parameters:

$310,000 sales price
65% loan-to-value (LTV)
18 month term
12% interest rate
1% origination fee

Once the renovation project is finished, if Kristina sells the house for $372,000, the outcome would be the following:

$372,000 sales price
- $201,500 principle (65% LTV)
- $108,500 cash paid at closing (35% on 65% LTV)
- $2,015 origination fee (1% of the $201,500 principle)
- $36,270 interest payments (18 months x 12% interest)
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= $23,715 gross profit (doesn't include taxes or renovation costs)

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