Pacific Home Loans

About Pacific Home Loans

Pacific Home Loans is private money lender based in Kihei, HI. They provide loans throughout Hawaii. They provide fix-and-flip hard money loans, short term loans, and buy and hold loans. They do not require their borrowers to have a minimum FICO rating to receive a loan. The focus of their lending is for single family units and multi-family.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: HI

Licenses: NMLS #278194

Lending Guidelines for Pacific Home Loans

Below are the general loan guidelines published on the Pacific Home 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 Pacific Home Loans.

Loan Example 1

Henry closes on a $380,000 renovation project in Honolulu, HI, using a fix-and-flip loan from Pacific Home Loans. The terms of the note include a 55% loan-to-value (LTV), so he must contribute 45% of the price as cash at closing, which makes the principle loan amount $209,000. The rate on the loan is 11% for a term of 18 months and the lender requires a four point origination fee at the closing. The interest is to be paid on a monthly basis and the principle will be repaid after the property sells.

On top of the $8,360 origination fee, Henry will also need to fund $171,000 of the purchase with his own cash, or 45% of the purchase price. The monthly interest only payments will then be $1,916 to the lender. At the expiration of the loan, he sells the rehabed house for $551,000. After subtracting the $34,485 in total interest payments ($1,916 multiplied by 18 months), the $8,360 origination fee, the $209,000 principle amount on the loan, and the $171,000 he brought to closing, he will earn a total profit of $128,155 ($551,000 price minus $422,845 in costs). This profit would then be reduced by any building costs paid by the borrow.

Loan Example 2

Pacific Home Loans issues a hard money loan to Craig for a rehab project in Honolulu, HI. The deal dictates the following:

$330,000 purchase price
50% loan-to-value (LTV)
6 month term
9% rate of interest
4% origination fee

If Craig succeeds in his goal of a $396,000 sales price, the outcome of the project will be the following:

$396,000 sales price
- $165,000 loan principle (50% LTV)
- $165,000 cash paid at closing (50% on 50% LTV)
- $6,600 origination points (4% of the $165,000 principle amount)
- $7,425 interest payments (6 months x 9% interest)
-----------------------
= $51,975 total profit (doesn't include taxes or renovation costs)

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