New Wave Loans

About New Wave Loans

New Wave Loans is an asset-based lender based in Aventura, FL providing funding throughout New York, Arizona, Illinois, and Florida. They provide lending solutions for a variety of situations, including buy and hold loans, commercial loans, ground up construction loans, cash out hard money loans, fix-and-flip hard money loans, and short term loans. They issue loan amounts ranging from $200,000 to $15,000,000 with a maximum LTV of 65% and terms between 1 year and 3 years. They will make loans on various property types, including single family, multi family, apartment buildings, offices, mixed use spaces, retail units, warehouse buildings, storage buildings, industrial facilities, and hotels and motels.

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, Apartment, Office, Mixed Use, Retail, Warehouse, Storage, Industrial, Hotel

Areas Served: NY, AZ, IL, FL

Licenses: NMLS ID: 994227

Lending Guidelines for New Wave Loans

Below are the general loan guidelines published on the New Wave 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 New Wave Loans.

Loan Example 1

Sophie is a real estate investor in Chicago, IL. She finds an older property and wants to renovate it and flip it for a profit. The property costs $150,000 but she does not have the full amount so she takes a fix and flip loan with New Wave Loans. Since the lender agrees to a 80% loan-to-value, Sophie will be required to put 20% down and the principle amount of the note will be $120,000. The parameters of the loan dictate a 14% note for 18 months. They also stipulate a 1 point origination fee, which will also have to be paid when the property closes.

On top of the $1,200 origination fee, Sophie will also have to fund $30,000 of the purchase with her own cash, or 20% of the purchase price. After the loan is executed and Sophie takes on the project, she will begin making monthly payments of $1,400 to New Wave Loans ($120,000 principle x 14% / 12 months). If Sophie meets her goal of a $187,500 sales price when the loan expires, she would earn a gross profit of $11,100 after repaying the principle and subtracting the money she contributed at closing, the origination points, and the total monthly interest payments.

Loan Example 2

New Wave Loans issues a private money loan to Jeffrey for a remodeling project in Chicago, IL. The loan dictates the following:

$220,000 sales price
60% loan to value (LTV)
12 month term
8% interest rate
3% origination fee

Based on a $308,000 sales price at the end of the 12 month term, the final numbers for the deal would look like this:

$308,000 sales price
- $132,000 loan principle (60% LTV)
- $88,000 cash paid at closing (40% on 60% LTV)
- $3,960 origination fee (3% of the $132,000 principle amount)
- $10,560 interest payments (12 months x 8% interest)
-----------------------
= $73,480 total profit (doesn't include taxes or renovation costs)

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