Louie Loans

About Louie Loans

Headquartered in San Diego, CA, Louie Loans is a private lender offering funding in San Diego County, Orange County, Los Angeles County, Riverside County, San Bernardino County, Imperial County, and Ventura County. They offer hard money construction loans, commercial hard money loans, fix-and-flip loans, loans for rental properties, short term bridge loans, and refinancing. Their lending guidelines are flexible, including terms up to 18 months, loan amounts ranging from $50,000 to $2,000,000 with a maximum LTV of 75%, and rates ranging between 6% and 7%. They do not require their borrowers to have a minimum credit score to receive a loan. They provide loans on the following property types: single family, multi family residences, mixed use spaces, retail storefronts, office buildings, and industrial facilities.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans

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

Areas Served: San Diego County, Orange County, Los Angeles County, Riverside County, San Bernardino County, Imperial County, Ventura County

Licenses: CA Dept of Real Estate - DRE # 01953048 NMLS #1549522

Lending Guidelines for Louie Loans

Below are the general loan guidelines published on the Louie Loans 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 Louie Loans.

Loan Example 1

Frank is a house flipper in Los Angeles, CA. He discovers a run-down property for sale and wants to remodel it and sell it for a profit. The property costs $240,000 but he doesn't have the full amount so he takes a fix-and-flip loan with Louie Loans. The lender agrees to write a note with a 80% loan-to-value (LTV) so they will extend $192,000 on the house. The terms of the note also include a three point origination fee which will be paid at the closing and a 18 month, interest-only note with a 10% rate of interest.

In addition to paying the $5,760 origination fee, Frank will also have to fund $48,000 of the purchase with his own money, or 20% of the purchase price. After the deal is closed and Frank takes the property, he will need to begin making monthly payments of $1,600 to the lender ($192,000 principle x 10% / 12 months). At the expiration of the note, he sells the rehabed property for $288,000. After deducting the $28,800 in interest payments ($1,600 times 18 months), the $5,760 origination fee, the $192,000 principle on the note, and the $48,000 he brought to the closing, he will earn a gross profit of $13,440 ($288,000 sales price minus $274,560 in costs). This profit would be reduced by any building costs paid by the borrow.

Loan Example 2

Karl is a real estate investor in Los Angeles, CA. He buys a run-down house for a renovation project and takes a private money loan from Louie Loans with the following features:

$240,000 sales price
85% loan to value (LTV)
18 month term
12% interest rate
2% origination fee

Based on a $324,000 sales price at the end of the 18 month term, the final numbers for this deal would look like the following:

$324,000 sales price
- $204,000 note principle (85% LTV)
- $36,000 cash paid at closing (15% on 85% LTV)
- $4,080 origination fee (2% of the $204,000 principle)
- $36,720 total interest paid (18 months x 12% interest)
-----------------------
= $43,200 total profit (does not include taxes or renovation costs)

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