LendingHQ

About LendingHQ

LendingHQ is a Charleston, SC based private lender offering loans throughout Georgia, South Carolina, and North Carolina. They offer lending solutions for many different situations and needs, including fix and flip hard money loans, commercial loans, and construction loans. They offer loan amounts ranging from $10,000 to $2,000,000 with a maximum LTV of 65% and terms between 12 months and 60 months. They do not require a minimum FICO rating to obtain a loan. They will make loans on all of the following property types: single family units, multi family residences, apartments, offices, retail units, mixed use, warehouse spaces, industrial buildings, and medical facilities.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans

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

Areas Served: GA, SC, NC

Lending Guidelines for LendingHQ

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

Loan Example 1

LendingHQ makes a private money loan to Priscilla for a rehab project in Atlanta, GA, on a house that is listed for $280,000. The borrower will have to bring 50% of the purchase price in cash to the closing based on a 50% loan to value set by the lending company. This makes the principle note from LendingHQ $140,000. The parameters of the loan dictate a 11% note for 12 months. They also require a 2 point origination fee, that will also have to be paid at closing.

In accordance with the parameters of the deal, Priscilla will have to contribute a $2,800 origination fee in addition to 50% of the purchase price, or $140,000, based on the 50% LTV. After the loan closes, she will have to pay LendingHQ $1,283 in monthly interest payments, or 11% multiplied times $140,000 divided by 12 months in the year. Priscilla's intention is to complete the remodel by the end of the 12 months and sell it for $420,000. If she succeeds she will make a total profit of $121,800 ($420,000 price - $140,000 principle - $140,000 funds brough to closing - $2,800 origination points - $15,400 in interest.

Loan Example 2

LendingHQ issues a hard money loan to Myrtle for a remodeling project in Atlanta, GA. The deal dictates the following:

$380,000 sales price
70% loan to value (LTV)
6 month term
12% interest rate
3% origination fee

Myrtle intends to sell the project when the note expires for $532,000. If she succeeds, the deal numbers would be the following:

$532,000 sales price
- $266,000 principle on note (70% LTV)
- $114,000 cash paid at closing (30% on 70% LTV)
- $7,980 origination fee (3% of the $266,000 principle)
- $15,960 total interest paid (6 months x 12% interest)
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= $128,060 gross profit (doesn't include taxes or renovation costs)

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