Mortgage Masters Group
481 SW Port St. Lucie Blvd., Suite A
Port St. Lucie, FL 34953
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About Mortgage Masters Group
Based in Port St. Lucie, FL, Mortgage Masters Group is a private lender providing funding throughout Florida. They provide cash out hard money loans, rental property loans, and short term fix and flip loans. They offer loans with a maximum LTV of 65%. They will consider varying lending requests but usually focus on single family residences.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans
Property Types Covered: Single Family
Areas Served: FL
Licenses: Branch NMLS ID# 373290, Lender Branch Lic. #MLDB85
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Lending Guidelines for Mortgage Masters Group
Below are the general loan guidelines published on the Mortgage Masters Group website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
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/AFix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
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/ARefinance / Cash Out Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
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 Mortgage Masters Group.
Loan Example 1
Molly closes on a $220,000 rehab project in Miami, FL, using a fix-and-flip loan from Mortgage Masters Group. The lender agrees to write a loan with a 60% loan-to-value (LTV) so they will loan $132,000 on the project. The terms of the deal also include a three point origination fee that will be paid at closing and a 12 month, interest only note with a 13% rate of interest.
In accordance with the terms of the loan, Molly will need to contribute a $3,960 origination fee in addition to 40% of the purchase price, or $88,000, since there is a 60% LTV. Mortgage Masters Group will collect $1,430 in monthly interest from the borrower. This is calculated by taking the full note amount of $132,000, multiplying that by the 13% rate of interest, and then dividing that number by 12. If Molly sells the property for $308,000 after 12 months, she would realize a total profit of $66,880 after deducting the original principle of $132,000, the money paid at the close of $88,000, the origination fee of $3,960, and the aggregate interest payments of $17,160. This profit doesn't account for renovation costs.
Loan Example 2
Marion is a real estate investor in Miami, FL. He finds a run-down house for a remodeling project and takes out a private money loan from Mortgage Masters Group with the following paramters:
a) A $160,000 sales price, b) a 85% loan-to-value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 4% origination fee.
If Marion achieves his goal of a $208,000 sales price, the outcome of the deal will be as follows:
$208,000 sales price
- $136,000 note principle (85% LTV)
- $24,000 down payment (15% on 85% LTV)
- $5,440 origination points (4% of the $136,000 principle amount)
- $22,440 interest payments (18 months x 11% interest)
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= $20,120 total profit (does not include taxes or renovation costs) -
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