Specialty Lending Group

About Specialty Lending Group

Headquartered in Greenbelt, MD, Specialty Lending Group is an asset-based lender providing loans in Washington DC. They offer hard money bridge loans and fix-and-flip hard money loans. They issue loans with a maximum LTV of 70% and terms between 3 months and 2 years. They primarily provide funding on single family, multi-family units, and raw land.

Loan Types Offered: Fix and Flip Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Land

Areas Served: Washington DC

Lending Guidelines for Specialty Lending Group

Below are the general loan guidelines published on the Specialty Lending Group 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 Specialty Lending Group.

Loan Example 1

Karen takes a fix and flip loan from Specialty Lending Group in order to renovate a house to flip in Washington DC, DC. The price of the property is $230,000. The terms of the loan include a 85% loan-to-value (LTV), so she must contribute 15% of the price as cash at closing, making the principle loan amount $195,500. The interest rate on the note is 12% for a length of 12 months and the lender requires a three point origination fee at the close. The interest is to be paid monthly and the principle amount will be returned after the sale of the property.

Therefore, the borrower will need to make a $34,500 down payment plus pay a $5,865 origination fee. After the loan is closed and Karen takes over the project, she will begin making payments each month of $1,955 to Specialty Lending Group ($195,500 principle x 12% / 12 months). If Karen sells the remodeled house for $345,000 at the end of the 12 month term, her gross profit (not accounting for rehab costs) would be $85,675. This is calculated by taking the sales price ($345,000) and subtracting the original note amount ($195,500), the origination fee ($5,865), the funds she brought to closing ($34,500), and the total interest payments ($23,460).

Loan Example 2

Rosetta is a an investor in Washington DC, DC. She finds an older house for a rehab project and takes out a hard money loan from Specialty Lending Group with the following terms:

$220,000 sales price
80% loan to value (LTV)
6 month term
10% interest rate
1% origination fee

Once the renovation project is finished, if Rosetta sells the project for $286,000, the numbers would be as follows:

$286,000 sales price
- $176,000 principle on note (80% LTV)
- $44,000 down payment (20% on 80% LTV)
- $1,760 origination fee (1% of the $176,000 principle amount)
- $8,800 total interest paid (6 months x 10% interest)
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= $55,440 gross profit (does not include taxes or renovation costs)

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