Miramar Financial Group
2195 San Dieguito Drive Suite 4B
Del Mar, CA 92014
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About Miramar Financial Group
Miramar Financial Group is a private money lender in Del Mar, CA providing funding across the US. They provide short term fix and flip loans, builder loans, and commercial loans. Their loan guidelines are flexible, including loans with a maximum LTV of 70%. They make loans on numerous property types, including single family units, multi-family, apartment buildings, office buildings, retail spaces, hotels/motels, storage buildings, senior living facilities, mixed use buildings, warehouses, industrial facilities, medical buildings, and undeveloped land.
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Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land
Areas Served: National
Licenses: Real Estate Broker - CA Bureau of Real Estate - License #01396493
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Lending Guidelines for Miramar Financial Group
Below are the general loan guidelines published on the Miramar Financial Group website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ANew Construction Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Miramar Financial Group.
Loan Example 1
Brian closes on a $400,000 renovation project in Knoxville, TN, using a hard money loan from Miramar Financial Group. Since the lender agrees to a 80% loan to value, Brian will have to put 20% down and the total amount of the note will be $320,000. The note is interest only, paid monthly, and is for 18 months at 12% interest with 1 points to be paid when the deal closes.
By the parameters of the note, Brian will be required to contribute a $3,200 origination fee plus 20% of the purchase price, or $80,000, since there is a 80% LTV. he must then pay $3,200 monthly to the lender. If Brian sells the property for $520,000 after 18 months, he would then make a gross profit of $59,200 after deducting the principle amount of $320,000, the cash paid at the close of $80,000, the origination fee of $3,200, and the total interest payments of $57,600. This gross profit does not include rehab costs.
Loan Example 2
Miramar Financial Group issues a loan to Jessica for a remodeling project in Chicago, IL. The deal includes the following:
a) A $310,000 sales price, b) a 50% loan-to-value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 4% origination fee.
Jessica plans to list the project when the note expires for $372,000. If she achieves this goal, the outcome will be as follows:
$372,000 sales price
- $155,000 principle (50% LTV)
- $155,000 down payment (50% on 50% LTV)
- $6,200 origination points (4% of the $155,000 principle amount)
- $23,250 total interest paid (18 months x 10% interest)
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= $32,550 total profit (doesn't include taxes or rehab costs) -
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