Randy Santa Loans

About Randy Santa Loans

Randy Santa Loans is a Henderson, NV based private lender. They offer loans in Henderson. They offer fix-and-flip hard money loans and buy and hold loans. Their lending parameters are versatile, including loan amounts ranging from $50,000 to $5,000,000. They primarily provide loans for single family homes and multi-family units.

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

Property Types Covered: Single Family, Multi Family

Areas Served: Henderson

Licenses: NMLS: 369116

Lending Guidelines for Randy Santa Loans

Below are the general loan guidelines published on the Randy Santa Loans 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 Randy Santa Loans.

Loan Example 1

Randy Santa Loans makes a private money loan to Erik for a renovation project in Henderson, NV, on a property that costs $220,000. The loan-to-value (LTV) on the note is 60%. This means Erik will need to bring 40% of the sales price to closing and the principle amount will be $132,000 on the deal. The loan is interest-only, paid monthly, and is for 12 months at 11% interest with 4 points to be paid at closing.

Therefore, the borrower will have to make a $88,000 down payment plus pay a $5,280 origination fee. After the deal is closed and Erik takes over the property, he will begin making payments each month of $1,210 to the lender ($132,000 principle x 11% / 12 months). If Erik sells the remodeled house for $330,000 at the end of the 12 month term, his gross profit (not accounting for remodeling expenses) would be $90,200. This is calculated by taking the sales price ($330,000) and subtracting the original note amount ($132,000), the origination fee ($5,280), the cash he contributed to closing ($88,000), and the total interest expenses ($14,520).

Loan Example 2

Essie is a an investor in Henderson, NV. She buys an older townhouse for a rehab project and obtains a hard money loan from Randy Santa Loans with the following features:

$200,000 sales price
65% loan to value (LTV)
12 month term
9% interest rate
2% origination fee

Essie plans to list the property when the note expires for $250,000. If she achieves this goal, the deal numbers would be the following:

$250,000 sales price
- $130,000 principle (65% LTV)
- $70,000 cash paid at closing (35% on 65% LTV)
- $2,600 origination points (2% of the $130,000 principle amount)
- $11,700 interest payments (12 months x 9% interest)
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= $35,700 gross profit (does not include taxes or rehab costs)

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