Lord Mortgage & Loan

About Lord Mortgage & Loan

Based in Boca Raton, FL, Lord Mortgage & Loan is a hard money lender providing funding in Florida. Their focus is primarily on fix and flip hard money loans. The focus of their lending is for single family units and multi family.

Loan Types Offered: Fix and Flip Loans

Property Types Covered: Single Family, Multi Family

Areas Served: FL

Licenses: NMLS# 375427

Lending Guidelines for Lord Mortgage & Loan

Below are the general loan guidelines published on the Lord Mortgage & Loan 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 Lord Mortgage & Loan.

Loan Example 1

Anita closes on a $300,000 rehab project in Miami, FL, using a fix and flip loan from Lord Mortgage & Loan. The borrower will need to bring 20% of the sales price in cash to the closing based on a 80% loan to value set by the lender. This makes the principle amount from Lord Mortgage & Loan $240,000. The deal also has the following features: 1) a 18 month term, 2) a 9% interest only note, and 3) a three point origination charge.

Accordingly, the borrower will need to contribute a $60,000 down payment in addition to paying a $7,200 origination fee. After the deal is closed and Anita takes on the property, she will begin making payments each month of $1,800 to Lord Mortgage & Loan ($240,000 principle x 9% / 12 months). Assuming Anita sells the renovated project for $435,000 at the end of the 18 month term, her gross profit (not accounting for rehab costs) would be $95,400. This is computed by taking the sales price ($435,000) and subtracting the principle ($240,000), the origination cost ($7,200), the money she brought to closing ($60,000), and the total interest payments ($32,400).

Loan Example 2

Paul finds a property in Miami, FL to rehab and resell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Lord Mortgage & Loan with the following parameters:

$290,000 purchase price
50% loan-to-value (LTV)
12 month term
10% interest rate
4% origination fee

Paul intends to sell the property when the note expires for $348,000. If he succeeds, the outcome would be as follows:

$348,000 sales price
- $145,000 note principle (50% LTV)
- $145,000 down payment (50% on 50% LTV)
- $5,800 origination fee (4% of the $145,000 principle amount)
- $14,500 interest payments (12 months x 10% interest)
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= $37,700 gross profit (does not include taxes or rehab costs)