Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
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About Peak Choice Capital
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance commercial loans. Bridge Terms: 1-3 years and loan amounts ranging from $100,000 to $5,000,000. No prepayment penalty. Interest onlyPermanent/DSCR Terms: 30-year fixed and loan amounts ranging from $100,000-$3,000,000. Adjustable prepayment penalty, interest only available as well. They make loans on all of the following property types: single-family units, multi-family, apartment buildings, office units, retail storefronts, hotels/motels, mixed-use, and storage facilities.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans, New Construction Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Mixed Use, Storage
Areas Served: National
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Lending Guidelines for Peak Choice Capital
Below are the general loan guidelines published on the Peak Choice Capital website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: $100,000 - $5,000,000
Available Rates: 7.25% - 9.99%
Typical Terms: 12 months - 36 months
Points Charged: 0% - 2%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 650
Time to Close: 3 WeeksFix and Flip Loans
Loan Amounts: $75,000 - $5,000,000
Available Rates: 8.50% - 12.50%
Typical Terms: 12 months - 36 months
Points Charged: 1% - 3%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 650
Time to Close: 3 WeeksCommercial Hard Money Loans
Loan Amounts: $75,000 - $30,000,000
Available Rates: N/A
Typical Terms: 6 months - 36 months
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: NO
Time to Close: 2 - 3 WeeksRefinance / Cash Out Loans
Loan Amounts: $100,000 - $3,000,000
Available Rates: 7.25% - 9.99%
Typical Terms: 12 months - 36 months
Points Charged: 0% - 2%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: YES
Minimum FICO Score: N/A
Time to Close: 3 WeeksBridge Loans
Loan Amounts: $60,000 - $2,000,000
Available Rates: N/A
Typical Terms: 12 months - 36 months
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 2 - 3 WeeksNew Construction Loans
Loan Amounts: $100,000 - $5,000,000
Available Rates: 7.25% - 9.99%
Typical Terms: 1 months - 24 months
Points Charged: 1% - 3%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 3 Weeks -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Peak Choice Capital.
Loan Example 1
Theodore finds a duplex in Houston, TX to remodel and sell. Since he does not have enough cash to acquire the $170,000 project outright, he decides to take out a fix-and-flip loan from Peak Choice Capital. Since the lender agrees to a 60% loan to value, Theodore will have to put 40% down and the amount of the note will be $102,000. The deal also includes the following features: 1) a 6 month term, 2) a 11% interest only note, and 3) a three percent origination charge.
The borrower will need to bring a total of $32,400 up front to pay the $68,000 down payment plus the $3,060 origination fee. The monthly interest only payments will then total $935 to the lender. If Theodore accomplishes his goal of a $229,500 total sales price when the loan term expires, he would earn a total profit of $50,830 after repaying the principle on the note and deducting the cash he brought to closing, the origination fee, and the monthly interest payments.
Loan Example 2
Fred finds a property in Houston, TX to renovate and sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Peak Choice Capital with the following parameters:
a) A $340,000 sales price, b) a 50% loan to value (LTV), c) a 12 month term, d) a 11% interest rate, and e) a 4% origination fee.
Fred intends to list the project at the end of the term for $442,000. If he succeeds, the final numbers will be the following:
$442,000 sales price
- $170,000 note principle (50% LTV)
- $170,000 down payment (50% on 50% LTV)
- $6,800 origination fee (4% of the $170,000 principle amount)
- $18,700 interest payments (12 months x 11% interest)
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= $76,500 total profit (doesn't include taxes or rehab costs) -
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