Silverado Funding

About Silverado Funding

Silverado Funding is private lender headquartered in Portland, OR. They provide loans throughout Oregon. They provide builder loans, hard money bridge loans, cash out hard money loans, and fix and flip loans. They issue terms between 6 months and 12 months, rates ranging between 12% and 18%, and loan amounts ranging from $50,000 to $1,000,000 with a maximum LTV of 75%. They primarily offer funding on single family units and multi-family.

Loan Types Offered: Fix and Flip Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: OR

Licenses: NMLS #292152, ML-4221

Lending Guidelines for Silverado Funding

Below are the general loan guidelines published on the Silverado Funding 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 Silverado Funding.

Loan Example 1

Melvin takes a fix and flip loan from Silverado Funding in order to renovate a duplex to resale in Portland, OR. The list price of the house is $310,000. The loan to value (LTV) on the deal is 65%. This means Melvin will have to bring 35% of the sales price to the closing and the principle will be $201,500 on the note. The terms of the note also stipulate a five percent origination fee that is to be paid at the closing and a 6 month, interest-only note with a 12% interest rate.

In accordance with the terms of the deal, Melvin will be required to pay a $10,075 origination fee in addition to 35% of the sales price, or $108,500, based on the 65% LTV. The monthly interest only payments will then be $2,015 to Silverado Funding. If Melvin sells the project for $434,000 after 6 months, he would realize a total profit of $101,835 after subtracting the principle of $201,500, the money paid at closing of $108,500, the origination points of $10,075, and the total interest payments of $12,090. This profit does not include renovation costs.

Loan Example 2

Frederick finds a townhouse in Portland, OR to rehab and resell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Silverado Funding with the following parameters:

$170,000 purchase price
85% loan to value (LTV)
12 month term
10% interest rate
2% origination fee

Frederick plans to list the house at the end of the term for $212,500. If he succeeds, the deal numbers would be the following:

$212,500 sales price
- $144,500 loan principle (85% LTV)
- $25,500 cash paid at closing (15% on 85% LTV)
- $2,890 origination points (2% of the $144,500 principle amount)
- $14,450 total interest paid (12 months x 10% interest)
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= $25,160 gross profit (does not include taxes or rehab costs)

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