Mountain States Home
9587 S Shadw Hill Circle
Lone Tree, CO 80124
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About Mountain States Home
Mountain States Home is a Lone Tree, CO based hard money lender. They offer loans throughout Colorado. They offer lending solutions for many different scenarios, including fix and flip loans and short term bridge loans. Their loan guidelines are versatile, including loans with a maximum LTV of 70% and rates ranging between 12% and 14%. The focus of their loans is for single family residences.
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Loan Types Offered: Fix and Flip Loans, Bridge Loans
Property Types Covered: Single Family
Areas Served: CO
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Lending Guidelines for Mountain States Home
Below are the general loan guidelines published on the Mountain States Home website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: N/A
Available Rates: 12% - 14%
Typical Terms: N/A
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 3 DaysBridge Loans
Loan Amounts: N/A
Available Rates: 12% - 14%
Typical Terms: 1 months - 3 months
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 3 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Mountain States Home.
Loan Example 1
Joel takes a private money loan from Mountain States Home in order to remodel a duplex to flip in Denver, CO. The list price of the property is $210,000. The terms of the deal include a 50% loan-to-value (LTV), so he must contribute 50% of the price as cash at closing, which makes the principle note amount $105,000. The parameters of the loan also stipulate a five percent origination fee that is to be paid at the closing and a 18 month, interest only note with a 9% rate of interest.
In addition to paying the $5,250 origination fee, Joel will also have to fund $105,000 of the purchase with his own money, or 50% of the purchase price. Mountain States Home will collect $788 in monthly interest from the Joel. This is computed by taking the total loan amount of $105,000, multiplying by the 9% rate of interest, and then dividing that number by 12. If Joel achieves his goal of a $304,500 sales price when the loan expires, he would earn a total profit of $75,075 after re-paying the principle on the note and deducting the money he paid at closing, the origination fee, and the total interest payments.
Loan Example 2
Marta is a an investor in Denver, CO. She locates an older property for a renovation project and obtains a hard money loan from Mountain States Home with the following features:
a) A $380,000 purchase price, b) a 80% loan-to-value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 2% origination fee.
If Marta achieves her goal of a $513,000 sales price, the final numbers of the deal will be as follows:
$513,000 sales price
- $304,000 note principle (80% LTV)
- $76,000 down payment (20% on 80% LTV)
- $6,080 origination points (2% of the $304,000 principle)
- $59,280 total interest paid (18 months x 13% interest)
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= $67,640 gross profit (does not include taxes or renovation costs) -
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