Lendero

About Lendero

Lendero is a Schertz, TX based private lender. They offer loans all throughout the US. Their lending focus is primarily on hard money loans for commercial properties. Their loan guidelines are flexible, including loan amounts ranging from $250,000 to $10,000,000 with a maximum LTV of 90%. They do not require borrowers to have a minimum credit rating to obtain a loan. They make loans on many types of properties, including single family units, multi-family units, apartment buildings, office buildings, retail storefronts, hotels and motels, storage buildings, assisted living communities, mixed use, warehouses, industrial buildings, and medical buildings.

Loan Types Offered: Commercial Hard Money Loans

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

Areas Served: National

Lending Guidelines for Lendero

Below are the general loan guidelines published on the Lendero 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 Lendero.

Loan Example 1

Ian is an entrepreneur in Fontana, CA. He decides to acquire a new retail space for his company but he is not able to get a conventional mortgage loan from his bank because of his below average credit rating. He looks to Lendero for a commercial hard money loan so he can fund the acquisition. The building is listed for $390,000. Since there is a 55% loan to value (LTV) stipulated by the lender, the loan principle amount is $214,500. The additional $175,500 will be be paid by Ian. In addition, the lender will require a 1 point origination fee in addition to the 13%, 18 month term on the deal. They agree to not enforce a pre-payment penalty in case Ian pays off the loan early. Ian can eliminate the loan at any point if he pays off the $214,500 of principle, however, he will have to make $2,324 per month interest payments ($214,500 principle x 13% interest / 12 months) in the meantime, or until the loan expires. Since there isn't a pre-payment penalty, the only other expense he will have to pay is the $2,145 origination cost which he will contribute at the close.

Loan Example 2

Mike is a an investor in Fort Worth, TX. He finds a run-down property for a rehab project and takes a private money loan from Lendero with the following paramters:

$280,000 sales price
80% loan to value (LTV)
18 month term
13% interest rate
4% origination fee

If Mike achieves his goal of a $378,000 sales price, the numbers of the project would be the following:

$378,000 sales price
- $224,000 principle (80% LTV)
- $56,000 cash paid at closing (20% on 80% LTV)
- $8,960 origination fee (4% of the $224,000 principle amount)
- $43,680 interest payments (18 months x 13% interest)
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= $45,360 total profit (does not include taxes or rehab costs)