Pro Builder Financial

About Pro Builder Financial

Headquartered in Wellesley, MA, Pro Builder Financial is a hard money lender offering funding throughout New Hampshire, Massachusetts, Connecticut, Rhode Island, and Maine. They offer commercial hard money loans, construction loans, fix and flip loans, buy and hold loans, hard money bridge loans, and cash out loans. They issue terms between 6 months and 2 years, loan amounts ranging from $100,000 to $3,000,000 with a maximum LTV of 75%, and rates ranging between 12% and 15%. They provide loans on all of the following types of properties: single family, multi family, apartments, office units, retail spaces, mixed use buildings, industrial facilities, medical facilities, and raw land.

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

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

Areas Served: NH, MA, CT, RI, ME

Lending Guidelines for Pro Builder Financial

Below are the general loan guidelines published on the Pro Builder Financial 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 Pro Builder Financial.

Loan Example 1

Pro Builder Financial makes a fix and flip loan to Lucinda for a renovation project in Boston, MA, on a house that costs $320,000. The terms of the loan include a 65% loan-to-value (LTV), so she must bring 35% of the price as cash at closing, making the principle note amount $208,000. The rate on the note is 11% for a length of 18 months and the company requires a one point origination fee at the close. The interest payments are to be paid on a monthly basis and the principle will be repaid after the property sells.

According to the terms of the loan, Lucinda will have to contribute a $2,080 origination fee in addition to 35% of the purchase price, or $112,000, since there is a 65% LTV. Once the deal is executed and Lucinda takes the property, she will need to begin making payments each month of $1,907 to Pro Builder Financial ($208,000 principle x 11% / 12 months). If Lucinda sells the house for $480,000 after 18 months, she would then realize a gross profit of $123,600 after subtracting the principle of $208,000, the cash contributed at closing of $112,000, the origination points of $2,080, and the total interest payments of $34,320. This profit doesn't account for building costs.

Loan Example 2

Eunice takes a hard money loan from Pro Builder Financial so she can remodel a house to re-sell in Boston, MA. The loan has the following parameters:

a) A $360,000 purchase price, b) a 70% loan-to-value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 4% origination fee.

If Eunice accomplishes her goal of a $504,000 sales price, the final numbers of the deal would be the following:

$504,000 sales price
- $252,000 principle (70% LTV)
- $108,000 down payment (30% on 70% LTV)
- $10,080 origination fee (4% of the $252,000 principle amount)
- $30,240 interest payments (18 months x 8% interest)
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= $103,680 total profit (doesn't include taxes or rehab costs)

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