Refresh Real Estate Funding
1680 Michigan PH 4
Miami Beach, FL 33139
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About Refresh Real Estate Funding
Refresh Real Estate Funding is hard money lender headquartered in Miami Beach, FL. They offer funding throughout Florida. They offer lending solutions for a variety of needs and situations, including fix and flip loans, new construction loans, loans for rental properties, commercial hard money loans, short term loans, and private refinancing. They issue loan amounts ranging from $50,000 to $5,000,000 with a maximum LTV of 65%, rates ranging between 10% and 14%, and terms between 1 month and 24 months. They provide loans on all the following types of properties: single family units, multi-family, office buildings, retail units, and industrial buildings.
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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, Office, Retail, Industrial
Areas Served: FL
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Lending Guidelines for Refresh Real Estate Funding
Below are the general loan guidelines published on the Refresh Real Estate Funding website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: $50,000 - $5,000,000
Available Rates: 10% - 14%
Typical Terms: 1 months - 24 months
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/AFix and Flip Loans
Loan Amounts: $50,000 - $5,000,000
Available Rates: 10% - 14%
Typical Terms: 1 months - 24 months
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: $50,000 - $5,000,000
Available Rates: 10% - 14%
Typical Terms: 1 months - 24 months
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ANew Construction Loans
Loan Amounts: $50,000 - $5,000,000
Available Rates: 10% - 14%
Typical Terms: 1 months - 24 months
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ARefinance / Cash Out Loans
Loan Amounts: $50,000 - $5,000,000
Available Rates: 10% - 14%
Typical Terms: 1 months - 24 months
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ABridge Loans
Loan Amounts: $50,000 - $5,000,000
Available Rates: 10% - 14%
Typical Terms: 1 months - 24 months
Points Charged: 2% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: N/A
Interest Only Loans: YES
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 Refresh Real Estate Funding.
Loan Example 1
Lloyd is a house flipper in Miami, FL. He discovers a run-down property and wants to remodel it and sell it for a profit. The house costs $400,000 but he does not have the full amount so he takes a private money loan with Refresh Real Estate Funding. The lender agrees to write a note with a 60% loan to value (LTV) so they are willing to loan $240,000 on the project. The rate on the note is 11% for a term of 18 months and the company requires a four point origination fee at the close. The interest is to be paid monthly and the principle will be returned after the property sells.
Accordingly, the borrower will have to make a $160,000 down payment in addition to paying a $9,600 origination fee. Once the loan is executed and Lloyd takes on the project, he will need to begin making payments each month of $2,200 to the lender ($240,000 principle x 11% / 12 months). Lloyd's intention is to finish the rehab within the 18 months and resell it for $520,000. If he succeeds he will make a profit of $70,800 ($520,000 sales price - $240,000 principle - $160,000 down payment - $9,600 origination fee - $39,600 in total interest paid.
Loan Example 2
Refresh Real Estate Funding makes a fix and flip loan to Casey for a renovation project in Miami, FL. The deal dictates the following:
a) A $170,000 sales price, b) a 70% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 2% origination fee.
Casey intends to sell the property when the note expires for $204,000. If he achieves this goal, the outcome would be as follows:
$204,000 sales price
- $119,000 loan principle (70% LTV)
- $51,000 down payment (30% on 70% LTV)
- $2,380 origination fee (2% of the $119,000 principle amount)
- $6,545 interest payments (6 months x 11% interest)
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= $25,075 total profit (doesn't include taxes or renovation costs) -
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