Pacific Loanworks

About Pacific Loanworks

Pacific Loanworks is a Covina, CA based private lender providing loans in California. They provide loans for many different situations and needs, including short term bridge loans, commercial loans, long term rental property loans, and fix-and-flip hard money loans. They provide loan amounts ranging from $50,000 to $20,000,000 with a maximum LTV of 75%, terms between 6 months and 20 years, and rates ranging between 7.99% and 13%. They make loans on the following property types: single family units, multi-family units, apartment buildings, offices, retail units, mixed use buildings, industrial buildings, and undeveloped land.

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

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

Areas Served: CA

Licenses: DRE #1503083, NMLS #235577

Lending Guidelines for Pacific Loanworks

Below are the general loan guidelines published on the Pacific Loanworks 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 Loanworks.

Loan Example 1

Adam takes a private money loan from Pacific Loanworks in order to remodel a townhome to resale in Los Angeles, CA. The price of the house is $170,000. The loan to value (LTV) on the loan is 75%. This means that Adam will bring 25% of the sales price to closing and the principle amount will be $127,500 on the loan. The loan also consists of these features: 1) a 18 month term, 2) a 13% interest-only note, and 3) a one point origination charge.

By the terms of the note, Adam will be required to contribute a $1,275 origination fee in addition to 25% of the sales price, or $42,500, based on the 75% LTV. Once the loan closes, he will need to pay Pacific Loanworks $1,381 in monthly interest fees, or 13% times $127,500 divided by 12 months in the year. If Adam achieves his goal of a $204,000 total sales price when the loan expires, he would earn a gross profit of $7,863 after repaying the principle and deducting the cash he paid at closing, the origination fee, and the total interest payments.

Loan Example 2

Pacific Loanworks makes a private money loan to Nikki for a remodeling project in Los Angeles, CA. The loan includes the following:

$340,000 purchase price
75% loan to value (LTV)
18 month term
10% interest rate
3% origination fee

After the rehab project is completed, if Nikki sells the project for $476,000, the numbers would be as follows:

$476,000 sales price
- $255,000 loan principle (75% LTV)
- $85,000 down payment (25% on 75% LTV)
- $7,650 origination points (3% of the $255,000 principle)
- $38,250 total interest paid (18 months x 10% interest)
-----------------------
= $90,100 gross profit (doesn't include taxes or renovation costs)

No Reviews Yet

Pacific Loanworks currently has no reviews. To add a review now, click the link below:

Write a Review for Pacific Loanworks