LendingOne

About LendingOne

LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They provide rates ranging between 7.19% and 12.9%, terms up to 1 year, and loan amounts ranging from $50,000 to $2,000,000. They require a minimum credit score of 600 to receive a loan. The focus of their lending is on single family units and multi-family.

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

Property Types Covered: Single Family, Multi Family

Areas Served: AL, AR, CA, CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, VA, WA, WI, WV, WY

Licenses: NMLS ID # 1508627, Arizona Mortgage Banker License # BK-0944181, California Finance Lender License # 60DBO-58915, Minnesota Residential Mortgage Originator License # MN-MO-1508627, Oregon Mortgage Lenders License # 5529 and Vermont Commercial Lender License # 1508627 CLL

Lending Guidelines for LendingOne

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

Loan Example 1

LendingOne makes a fix-and-flip loan to Eugene for a renovation project in Houston, TX, on a house that is listed for $150,000. As the lender agrees to a 50% loan-to-value, Eugene will be required to put 50% down and the principle amount of the loan will be $75,000. The loan is interest-only, with monthly payments, and is for 12 months at 13% interest with 5 origination points to be paid at the closing.

In addition to paying the $3,750 origination fee, Eugene will also have to fund $75,000 of the purchase with his own money, or 50% of the purchase price. The lender will collect $813 in monthly interest payments from the borrower. This is calculated by taking the total loan amount of $75,000, multiplying by the 13% rate of interest, and then dividing that number by 12. If Eugene sells the house for $225,000 after 12 months, he would then make a gross profit of $61,500 after subtracting the principle of $75,000, the cash paid at the close of $75,000, the origination fee of $3,750, and the aggregate interest payments of $9,750. This amount does not include building costs.

Loan Example 2

Freddie takes out a hard money loan from LendingOne so he can renovate a townhouse to flip in Houston, TX. The deal has the following parameters:

a) A $320,000 purchase price, b) a 70% loan-to-value (LTV), c) a 12 month term, d) a 14% interest rate, and e) a 1% origination fee.

Based on a $464,000 sales price at the end of the 12 month term, the final numbers for the project would look like this:

$464,000 sales price
- $224,000 note principle (70% LTV)
- $96,000 down payment (30% on 70% LTV)
- $2,240 origination points (1% of the $224,000 principle)
- $31,360 interest payments (12 months x 14% interest)
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= $110,400 gross profit (does not include taxes or renovation costs)