Singer Financial Corp

About Singer Financial Corp

Based in Philadelphia, PA, Singer Financial Corp is a hard money lender providing loans in Pennsylvania, New Jersey, and Delaware. They provide loans for many different scenarios, including rental property loans, fix-and-flip loans, and hard money loans for commercial properties. Their lending guidelines are flexible, including loan amounts ranging from $200,000 to $1,000,000 with a maximum LTV of 50% and rates ranging between 12% and 15%. They make loans on many property types, including single family units, multi-family, apartment buildings, offices, retail units, hotels/motels, storage buildings, senior housing facilities, mixed use buildings, undeveloped land, churches, warehouses, industrial facilities, and medical facilities.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Land, Church, Warehouse, Industrial, Medical

Areas Served: PA, NJ, DE

Lending Guidelines for Singer Financial Corp

Below are the general loan guidelines published on the Singer Financial Corp 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 Singer Financial Corp.

Loan Example 1

Renee is a real estate investor in Philadelphia, PA. She discovers a run-down property for sale and wants to renovate it and sell it for a profit. The property costs $220,000 but she does not have the full amount so she obtains a private money loan with Singer Financial Corp. The loan-to-value (LTV) on the note is 65%. This means Renee will bring 35% of the purchase price to the closing and the principle will be $143,000 on the deal. The terms of the deal also stipulate a one point origination fee which is to be paid at the closing and a 6 month, interest only note with a 9% rate of interest.

Accordingly, Renee will be required to make a $77,000 down payment plus pay a $1,430 origination fee. she must then pay $1,073 per month to the lender. Renee's plan is to complete the remodel within the 6 months and re-sell it for $264,000. If she succeeds she will collect a gross profit of $36,135 ($264,000 price - $143,000 principle - $77,000 cash paid at closing - $1,430 origination points - $6,435 in total interest.

Loan Example 2

Timothy finds a house in Philadelphia, PA to renovate and resell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Singer Financial Corp with the following parameters:

$250,000 purchase price
80% loan-to-value (LTV)
12 month term
10% interest rate
2% origination fee

Once the rehab project is complete, if Timothy sells the property for $300,000, the numbers would be as follows:

$300,000 sales price
- $200,000 loan principle (80% LTV)
- $50,000 down payment (20% on 80% LTV)
- $4,000 origination points (2% of the $200,000 principle)
- $20,000 total interest paid (12 months x 10% interest)
-----------------------
= $26,000 total profit (does not include taxes or rehab costs)

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