Overland Group Inc

About Overland Group Inc

Overland Group Inc is a Draper, UT based hard money lender. They offer loans throughout Salt Lake City, Sandy, South Jordan, and West Jordan. They provide loans for many different scenarios, including investment property loans, ground up construction loans, fix-and-flip hard money loans, and private commercial loans. They will make loans on the following types of properties: single family homes, multi family, apartments, office units, retail storefronts, mixed use spaces, industrial buildings, and raw land.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans

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

Areas Served: Salt Lake City, Sandy, South Jordan, West Jordan

Lending Guidelines for Overland Group Inc

Below are the general loan guidelines published on the Overland Group Inc 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 Overland Group Inc.

Loan Example 1

Shelley takes a fix-and-flip loan from Overland Group Inc in order to renovate a house to flip in Salt Lake City, UT. The list price of the house is $350,000. The loan-to-value (LTV) on the note is 60%. This means Shelley will need to bring 40% of the sales price to the closing and the principle will be $210,000 on the deal. The deal also has these features: 1) a 12 month length, 2) a 9% interest-only note, and 3) a three point origination charge.

According to the parameters of the note, Shelley will have to contribute a $6,300 origination fee plus 40% of the sales price, or $140,000, since there is a 60% LTV. After the deal is closed and Shelley takes the project, she will need to begin making monthly payments of $1,575 to Overland Group Inc ($210,000 principle x 9% / 12 months). If Shelley sells the property for $437,500 after 12 months, she would make a total profit of $62,300 after subtracting the principle of $210,000, the money paid at closing of $140,000, the origination points of $6,300, and the aggregate interest payments of $18,900. This gross profit doesn't include remodeling costs.

Loan Example 2

Dorothea is a an investor in Salt Lake City, UT. She buys a run-down house for a renovation project and takes out a fix and flip loan from Overland Group Inc with the following features:

a) A $180,000 purchase price, b) a 80% loan to value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 1% origination fee.

Based on a $225,000 sales price at the end of the 18 month term, the outcome for the project would look like the following:

$225,000 sales price
- $144,000 note principle (80% LTV)
- $36,000 down payment (20% on 80% LTV)
- $1,440 origination points (1% of the $144,000 principle amount)
- $30,240 interest payments (18 months x 14% interest)
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= $13,320 total profit (doesn't include taxes or rehab costs)

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