Nova Bridge Capital

About Nova Bridge Capital

Nova Bridge Capital is a private money lender headquartered in New York, NY offering funding throughout the country. They provide rental property loans, cash out loans, fix-and-flip hard money loans, short term loans, and commercial hard money loans. Their loan parameters are flexible, including loan amounts ranging from $1,000,000 to $50,000,000 with a maximum LTV of 65%, rates ranging between 7% and 11%, and terms between 1 year and 3 years. They make loans on numerous property types, including single family homes, multi family, offices, mixed use spaces, retail units, apartment buildings, and warehouse spaces.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Office, Mixed Use, Retail, Apartment, Warehouse

Areas Served: National

Lending Guidelines for Nova Bridge Capital

Below are the general loan guidelines published on the Nova Bridge Capital 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 Nova Bridge Capital.

Loan Example 1

Shari is a house flipper in Fort Worth, TX. She locates a run-down property and decides to remodel it and sell it for a profit. The house costs $170,000 but she doesn't have the full amount so she obtains a fix and flip loan with Nova Bridge Capital. The borrower will need to fund 45% of the purchase price in cash to closing based on a 55% loan to value set by the lender. This makes the loan principle from Nova Bridge Capital $93,500. The parameters of the deal also stipulate a five percent origination fee which is to be paid at closing and a 18 month, interest only note with a 9% interest rate.

In accordance with the terms of the loan, Shari will need to pay a $4,675 origination fee in addition to 45% of the purchase price, or $76,500, since there is a 55% LTV. The monthly interest only payments will then be $701 to Nova Bridge Capital. At the expiration of the note, she sells the rehabed house for $229,500. After deducting the $12,623 in interest payments ($701 times 18 months), the $4,675 origination fee, the $93,500 principle on the note, and the $76,500 she brought to closing, she will earn a gross profit of $42,203 ($229,500 sales price minus $187,298 in total costs). This profit would then be reduced by any renovation costs paid by the borrow.

Loan Example 2

Alfredo is a an investor in Vancouver, WA. He finds an older townhouse for a renovation project and takes a hard money loan from Nova Bridge Capital with the following terms:

$160,000 sales price
70% loan to value (LTV)
6 month term
8% interest rate
4% origination fee

Assuming a $224,000 sales price after the 6 month term, the numbers for this project would look like this:

$224,000 sales price
- $112,000 note principle (70% LTV)
- $48,000 down payment (30% on 70% LTV)
- $4,480 origination points (4% of the $112,000 principle)
- $4,480 total interest paid (6 months x 8% interest)
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= $55,040 gross profit (doesn't include taxes or rehab costs)

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