National Advance Group

About National Advance Group

Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money loans. They offer loans on various property types, including multi family residences, apartments, office units, retail storefronts, and industrial buildings.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Industrial

Areas Served: AK, AL, AR, AZ, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY

Lending Guidelines for National Advance Group

Below are the general loan guidelines published on the National Advance Group 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 National Advance Group.

Loan Example 1

Pamela closes on a $360,000 renovation project in Houston, TX, using a hard money loan from National Advance Group. The borrower will need to contribute 35% of the sales price in cash to closing based on a 65% loan to value stipulated by the lending company. This makes the principle amount from National Advance Group $234,000. The interest rate on the loan is 9% for a length of 6 months and the company requires a one point origination fee at the closing. The interest payments are to be paid monthly and the principle amount will be returned after the sale of the property.

Accordingly, Pamela will be required to make a $126,000 down payment in addition to paying a $2,340 origination fee. The monthly interest only payments will then total $1,755 to the lender. At the end of the note, she sells the rehabed house for $486,000. After subtracting the $10,530 in interest expenses ($1,755 multiplied by 6 months), the $2,340 origination fee, the $234,000 principle amount on the note, and the $126,000 she brought to closing, she will make a total profit of $113,130 ($486,000 price minus $372,870 in total costs). This profit would then be reduced by any building costs paid out of pocket.

Loan Example 2

Terrence is a real estate investor in Houston, TX. He finds an older house for a remodeling project and obtains a hard money loan from National Advance Group with the following terms:

a) A $370,000 purchase price, b) a 65% loan to value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 4% origination fee.

Assuming a $462,500 sales price at the end of the 12 month term, the numbers for the deal would look like the following:

$462,500 sales price
- $240,500 principle on note (65% LTV)
- $129,500 cash paid at closing (35% on 65% LTV)
- $9,620 origination fee (4% of the $240,500 principle)
- $19,240 interest payments (12 months x 8% interest)
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= $63,640 total profit (doesn't include taxes or renovation costs)

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