RMAC Lending

About RMAC Lending

RMAC Lending is an Oklahoma City, OK based private lender who provides loans throughout Dallas, Oklahoma City, and Chicago. They offer short term fix and flip loans and investment property loans. They offer loan amounts ranging from $50,000 to $500,000 with a maximum LTV of 70%, terms up to 1 year, and rates ranging between 11.5% and 15%. They primarily provide funding on single family and multi-family.

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

Property Types Covered: Single Family, Multi Family

Areas Served: Dallas, Oklahoma City, Chicago

Lending Guidelines for RMAC Lending

Below are the general loan guidelines published on the RMAC Lending 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 RMAC Lending.

Loan Example 1

RMAC Lending makes a fix-and-flip loan to Russell for a remodeling project in Dallas, TX, on a house that costs $300,000. The lender agrees to write a loan with a 85% loan to value (LTV) so they will loan $255,000 on the house. The deal also consists of these features: 1) a 18 month length, 2) a 9% interest-only note, and 3) a five point origination fee.

According to the terms of the note, Russell will need to contribute a $12,750 origination fee in addition to 15% of the sales price, or $45,000, since there is a 85% LTV. The monthly interest-only payments will then total $1,913 to RMAC Lending. If he sells the remodeled house for $420,000 at the end of the 18 month term, his gross profit (not including rehab expenses) would be $72,825. This is computed by taking the sales price ($420,000) and subtracting the original principle ($255,000), the origination cost ($12,750), the cash he contributed to closing ($45,000), and the total interest payments ($34,425).

Loan Example 2

Lewis takes a private money loan from RMAC Lending so he can rehab a townhome to resell in Dallas, TX. The loan has the following parameters:

$260,000 purchase price
85% loan-to-value (LTV)
12 month term
8% interest rate
5% origination fee

If Lewis achieves his goal of a $364,000 sales price, the final numbers of the project will be as follows:

$364,000 sales price
- $221,000 loan principle (85% LTV)
- $39,000 down payment (15% on 85% LTV)
- $11,050 origination points (5% of the $221,000 principle amount)
- $17,680 interest payments (12 months x 8% interest)
-----------------------
= $75,270 total profit (doesn't include taxes or rehab costs)

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