Realistic Funding
224 W Palm Valley Blvd
Round Rock, TX 78664
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About Realistic Funding
Realistic Funding is a Round Rock, TX based hard money lender. They provide loans in Austin. They provide fix and flip hard money loans, buy and hold loans, and private refinancing. They will consider different lending requests but generally focus on single family units and multi-family units.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Austin
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Lending Guidelines for Realistic Funding
Below are the general loan guidelines published on the Realistic Funding website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/AFix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ARefinance / Cash Out Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Realistic Funding.
Loan Example 1
Realistic Funding issues a fix and flip loan to Bill for a renovation project in Austin, TX, on a property that is listed for $360,000. The lender agrees to make a note with a 50% loan-to-value (LTV) so they are willing to loan $180,000 on the house. The deal also has the following features: 1) a 12 month length, 2) a 10% interest-only note, and 3) a four percent origination fee.
In accordance with the terms of the deal, Bill will be required to contribute a $7,200 origination fee in addition to 50% of the sales price, or $180,000, since there is a 50% LTV. he will then pay $1,500 monthly to the lender. At the expiration of the note, he sells the renovated property for $432,000. After deducting the $18,000 in total interest payments ($1,500 multiplied times 12 months), the $7,200 origination fee, the $180,000 principle amount on the note, and the $180,000 he contributed to closing, he will earn a total profit of $46,800 ($432,000 price minus $385,200 in total costs). This profit would be reduced by any renovation costs paid by the borrow.
Loan Example 2
Ryan is a real estate investor in Austin, TX. He locates an older property for a remodeling project and takes a hard money loan from Realistic Funding with the following terms:
a) A $360,000 purchase price, b) a 80% loan to value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 5% origination fee.
Ryan plans to sell the property when the note expires for $504,000. If he achieves this goal, the outcome would be as follows:
$504,000 sales price
- $288,000 principle (80% LTV)
- $72,000 cash paid at closing (20% on 80% LTV)
- $14,400 origination fee (5% of the $288,000 principle)
- $34,560 interest payments (12 months x 12% interest)
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= $95,040 gross profit (doesn't include taxes or renovation costs) -
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