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About SMCC Capital LLC
SMCC Capital LLC is a Newnan, GA based private money lender. They provide funding in Georgia. They provide lending solutions for many different situations, including long term rental property loans, hard money refinancing, and fix-and-flip hard money loans. They provide rates ranging between 12% and 15%, terms between 9 months and 1 year, and loan amounts ranging from $25,000 to $250,000 with a maximum LTV of 65%. Their lending guidelines do not include a minimum FICO score. The focus of their loans is on single family residences and multi family residences.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans
Property Types Covered: Single Family, Multi Family
Areas Served: GA
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Lending Guidelines for SMCC Capital LLC
Below are the general loan guidelines published on the SMCC Capital LLC website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: $25,000 - $250,000
Available Rates: 12% - 15%
Typical Terms: 9 months - 12 months
Points Charged: 4% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: 3 DaysFix and Flip Loans
Loan Amounts: $25,000 - $250,000
Available Rates: 12% - 15%
Typical Terms: 6 months - 9 months
Points Charged: 4% - 5%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: 3 DaysRefinance / Cash Out Loans
Loan Amounts: $25,000 - $250,000
Available Rates: 12% - 15%
Typical Terms: 12 months - 15 months
Points Charged: 4% - 5%
Max Loan-to-Value (LTV): 60%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: 3 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by SMCC Capital LLC.
Loan Example 1
Cory closes on a $340,000 rehab project in Atlanta, GA, using a hard money loan from SMCC Capital LLC. As the lender sets a 55% loan to value, Cory will have to put 45% down and the total amount of the note will be $187,000. The parameters of the note also include a five point origination fee which is to be paid at closing and a 6 month, interest only note with a 9% rate of interest.
In addition to paying the $9,350 origination fee, Cory will also have to fund $153,000 of the purchase with his own funds, or 45% of the sales price. After the deal is executed and Cory takes over the property, he will have to begin making monthly payments of $1,403 to SMCC Capital LLC ($187,000 principle x 9% / 12 months). Cory's intention is to complete the renovation by the end of the 6 months and sell it for $493,000. If he succeeds he will earn a gross profit of $135,235 ($493,000 sales price - $187,000 principle - $153,000 funds brough to closing - $9,350 origination fee - $8,415 in interest.
Loan Example 2
SMCC Capital LLC issues a hard money loan to Tim for a renovation project in Atlanta, GA. The deal dictates the following:
$310,000 sales price
50% loan-to-value (LTV)
6 month term
10% interest rate
2% origination feeIf Tim succeeds in his goal of a $372,000 sales price, the final numbers of the project will be the following:
$372,000 sales price
- $155,000 principle on note (50% LTV)
- $155,000 cash paid at closing (50% on 50% LTV)
- $3,100 origination fee (2% of the $155,000 principle amount)
- $7,750 total interest paid (6 months x 10% interest)
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= $51,150 total profit (doesn't include taxes or rehab costs) -
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