Premier Money Source

About Premier Money Source

Based in Corona Del Mar, CA, Premier Money Source is a hard money lender providing loans throughout California. They offer fix and flip loans and rental property loans. They offer rates ranging between 8.99% and 10.75%, terms between 2 years and 3 years, and loan amounts starting at $50,000. Their lending guidelines do not require a minimum credit rating. They will make loans on all of the following types of properties: single family, multi-family, apartment buildings, office buildings, retail storefronts, industrial facilities, and storage buildings.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Industrial, Storage

Areas Served: CA

Lending Guidelines for Premier Money Source

Below are the general loan guidelines published on the Premier Money Source 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 Premier Money Source.

Loan Example 1

Premier Money Source makes a fix and flip loan to Gene for a remodeling project in Los Angeles, CA, on a property that costs $170,000. The terms of the loan include a 55% loan-to-value (LTV), so he must contribute 45% of the price as cash to closing, making the principle loan amount $93,500. The terms of the deal also stipulate a three percent origination fee that will be paid at the closing and a 18 month, interest-only note with a 12% interest rate.

Gene will need to contribute a total of $32,400 upon closing to pay the $76,500 down payment plus the $2,805 origination fee. The monthly interest only payments will then total $935 to Premier Money Source. If Gene accomplishes his goal of a $229,500 total sales price when the loan term expires, he would collect a total profit of $39,865 after re-paying the principle on the note and subtracting the cash he contributed at closing, the origination fee, and the total monthly interest payments.

Loan Example 2

Jimmy takes a loan from Premier Money Source so he can remodel a townhome to flip in Los Angeles, CA. The deal has the following terms:

$260,000 purchase price
80% loan-to-value (LTV)
12 month term
11% interest rate
2% origination fee

Jimmy plans to list the house when the note expires for $312,000. If he accomplishes his goal, the deal numbers would be the following:

$312,000 sales price
- $208,000 note principle (80% LTV)
- $52,000 down payment (20% on 80% LTV)
- $4,160 origination fee (2% of the $208,000 principle amount)
- $22,880 interest payments (12 months x 11% interest)
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= $24,960 gross profit (does not include taxes or renovation costs)