Sir Mortgage & Finance

About Sir Mortgage & Finance

Sir Mortgage & Finance is a Phoenix, AZ based private lender who offers loans throughout Arizona. They offer long term rental property loans, new construction loans, hard money loans for commercial properties, and short term fix and flip loans. They provide terms between 3 months and 84 months, loans with a maximum LTV of 60%, and rates ranging between 9% and 14%. They provide loans on many types of properties, including single family homes, multi family, apartment buildings, office units, retail units, and mixed use buildings.

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

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

Areas Served: AZ

Licenses: BK-0905357, NMLS #152620, NMLS #142480

Lending Guidelines for Sir Mortgage & Finance

Below are the general loan guidelines published on the Sir Mortgage & Finance 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 Sir Mortgage & Finance.

Loan Example 1

Alta closes on a $360,000 renovation project in Phoenix, AZ, using a fix and flip loan from Sir Mortgage & Finance. The terms of the loan include a 65% loan to value (LTV), so she must contribute 35% of the price as cash at closing, which makes the principle note amount $234,000. The deal also consists of the following features: 1) a 6 month term, 2) a 8% interest-only note, and 3) a one percent origination fee.

On top of the $2,340 origination fee, Alta will also fund $126,000 of the purchase with her own funds, or 35% of the purchase price. she will then pay $1,560 monthly to the lender. At the expiration of the note, she sells the renovated property for $504,000. After subtracting the $9,360 in interest expenses ($1,560 multiplied times 6 months), the $2,340 origination fee, the $234,000 principle on the note, and the $126,000 she brought to closing, she will make a gross profit of $132,300 ($504,000 sales price minus $371,700 in costs). This amount would then be reduced by any building costs paid by Alta.

Loan Example 2

Patrice is a real estate investor in Phoenix, AZ. She buys an older townhouse for a renovation project and takes a fix and flip loan from Sir Mortgage & Finance with the following features:

a) A $350,000 purchase price, b) a 55% loan to value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 4% origination fee.

Assuming a $472,500 sales price after the 18 month term, the outcome for this project would look like this:

$472,500 sales price
- $192,500 principle (55% LTV)
- $157,500 cash paid at closing (45% on 55% LTV)
- $7,700 origination points (4% of the $192,500 principle amount)
- $37,538 total interest paid (18 months x 13% interest)
-----------------------
= $77,263 total profit (does not include taxes or renovation costs)