Spyglass Lending

About Spyglass Lending

Spyglass Lending is a Los Angeles, CA based hard money brokerage. They help secure loans throughout Orange County, Los Angeles County, Riverside County, San Bernardino County, and San Diego County. They offer new construction loans, fix-and-flip loans, and low leverage refinance loans. Their loan parameters are flexible, including loan amounts ranging from $75,000 to $25,000,000 with a maximum LTV of 75% and rates starting at 6% . They will consider different loan requests but primarily focus on single family residences and multi family.

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

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

Areas Served: Orange County, Los Angeles County, Riverside County, San Bernardino County, San Diego County

Licenses: CalBRE #01976495

Lending Guidelines for Spyglass Lending

Below are the general loan guidelines published on the Spyglass Lending 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 Spyglass Lending.

Loan Example 1

Shauna takes a hard money loan from Spyglass Lending in order to renovate a townhome to flip in Los Angeles, CA. The sales price of the property is $300,000. The borrower will be required to fund 35% of the purchase price in cash to the closing based on a 65% loan-to-value stipulated by the lender. This makes the principle note from Spyglass Lending $195,000. The terms of the deal also include a four point origination fee that is to be paid at the closing and a 18 month, interest-only note with a 9% interest rate.

On top of the $7,800 origination fee, Shauna will also fund $105,000 of the purchase with her own money, or 35% of the purchase price. Once the deal closes, she will have to pay Spyglass Lending $1,463 in monthly interest payments, or 9% times $195,000 divided by 12 months in the year. If Shauna meets her goal of a $405,000 sales price when the loan expires, she would earn a gross profit of $70,875 after repaying the principle amount and subtracting the money she contributed at closing, the origination points, and the monthly interest payments.

Loan Example 2

Jimmy takes a private money loan from Spyglass Lending so he can renovate a property to re-sell in Los Angeles, CA. The deal has the following parameters:

$240,000 purchase price
65% loan-to-value (LTV)
12 month term
10% interest rate
5% origination fee

Assuming a $336,000 sales price at the end of the 12 month term, the outcome for the project would look like this:

$336,000 sales price
- $156,000 loan principle (65% LTV)
- $84,000 cash paid at closing (35% on 65% LTV)
- $7,800 origination fee (5% of the $156,000 principle)
- $15,600 interest payments (12 months x 10% interest)
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= $72,600 gross profit (doesn't include taxes or rehab costs)