Payette Financial Services

About Payette Financial Services

Payette Financial Services is a Boise, ID based hard money lender offering loans in 10 states throughout the United States. They provide loans for a variety of needs and situations, including short term fix and flip loans, cash out loans, hard money loans for commercial properties, loans for rental properties, and short term bridge loans. Their lending parameters are versatile, including rates ranging between 8% and 13%, loan amounts ranging from $25,000 to $2,500,000 with a maximum LTV of 85%, and terms between 1 year and 3 years. They offer loans on various types of properties, including multi-family units, apartment buildings, office units, retail storefronts, hotels/motels, storage facilities, senior facilities, mixed use spaces, churches, warehouses, industrial buildings, and medical offices.

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

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Church, Warehouse, Industrial, Medical

Areas Served: ID, AZ, CO, MT, NV, NM, OR, UT, WA, WY

Lending Guidelines for Payette Financial Services

Below are the general loan guidelines published on the Payette Financial Services 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 Payette Financial Services.

Loan Example 1

Jill closes on a $370,000 renovation project in Las Vegas, NV, using a hard money loan from Payette Financial Services. Since the lender sets a 60% loan-to-value, Jill will need to put 40% down and the amount of the loan will be $222,000. The terms of the loan also include a four point origination fee which will be paid at closing and a 18 month, interest-only note with a 13% interest rate.

In accordance with the parameters of the deal, Jill will have to contribute a $8,880 origination fee in addition to 40% of the purchase price, or $148,000, since there is a 60% LTV. The monthly interest only payments will then total $2,405 to Payette Financial Services. If Jill sells the house for $462,500 after 18 months, she would earn a gross profit of $40,330 after subtracting the original principle of $222,000, the funds contributed at closing of $148,000, the origination points of $8,880, and the aggregate interest payments of $43,290. This amount does not account for building costs.

Loan Example 2

Rick takes a loan from Payette Financial Services so he can renovate a townhouse to flip in Las Vegas, NV. The loan has the following parameters:

a) A $300,000 sales price, b) a 75% loan-to-value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 1% origination fee.

Once the renovation project is completed, if Rick sells the house for $390,000, the final numbers would be as follows:

$390,000 sales price
- $225,000 note principle (75% LTV)
- $75,000 cash paid at closing (25% on 75% LTV)
- $2,250 origination fee (1% of the $225,000 principle amount)
- $37,125 total interest paid (18 months x 11% interest)
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= $50,625 total profit (doesn't include taxes or rehab costs)

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