ReProp Financial

About ReProp Financial

ReProp Financial is an Eureka, CA based hard money lender. They provide loans in California. They offer lending solutions for many different situations, including fix-and-flip hard money loans, loans for investments properties, construction loans, and commercial hard money loans. They provide rates ranging between 6.99% and 7.99%, terms between 1 year and 2 years, and loan amounts ranging from $100,000 to $2,000,000 with a maximum LTV of 50%. They will make loans on all of the following types of properties: single family homes, multi-family, retail storefronts, offices, and mixed use.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans

Property Types Covered: Single Family, Multi Family, Retail, Office, Mixed Use

Areas Served: CA

Licenses: RFMI CFL License: 605 2783, RCS CFL License: 605 4681, ReProp Investments, Inc.: CFL License: 60DBO 48773, NMLS ID: 1189084, DRE # 00656859, ReProp Investments, Inc: Oregon Mortgage Lending License: ML-5297, ReProp Investments, Inc: Arizona Mortgage Broker License: 0927323

Lending Guidelines for ReProp Financial

Below are the general loan guidelines published on the ReProp 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 ReProp Financial.

Loan Example 1

Don takes a fix-and-flip loan from ReProp Financial in order to remodel a townhouse to flip in Los Angeles, CA. The price of the house is $380,000. The borrower will have to fund 45% of the purchase price in cash to closing based on a 55% loan to value stipulated by the lender. This makes the loan principle from ReProp Financial $209,000. The parameters of the deal dictate a 9% note for 18 months. They also require a 3 point origination fee, that will also have to be paid upon closing.

Accordingly, the borrower will have to contribute a $171,000 down payment plus pay a $6,270 origination fee. he must then pay $1,568 monthly to ReProp Financial. If Don accomplishes his goal of a $532,000 total sales price at the end of the loan term, he would pocket a gross profit of $117,515 after repaying the principle on the note and subtracting the money he contributed at closing, the origination fee, and the monthly interest payments.

Loan Example 2

ReProp Financial issues a private money loan to Danny for a rehab project in Los Angeles, CA. The loan dictates the following:

$240,000 sales price
75% loan-to-value (LTV)
12 month term
12% rate of interest
5% origination fee

After the rehab project is complete, if Danny sells the house for $300,000, the final numbers would be the following:

$300,000 sales price
- $180,000 principle on note (75% LTV)
- $60,000 down payment (25% on 75% LTV)
- $9,000 origination fee (5% of the $180,000 principle amount)
- $21,600 interest payments (12 months x 12% interest)
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= $29,400 gross profit (does not include taxes or rehab costs)

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