Steeple Rock Funding

About Steeple Rock Funding

Steeple Rock Funding is a private money lender based in Gilbert, AZ offering funding in Arizona. They offer lending solutions for many different scenarios, including private commercial loans, short term loans, fix-and-flip loans, loans for investments properties, cash out loans, and ground up construction loans. They provide rates from 11.99%, loan amounts ranging from $75,000 to $20,000,000 with a maximum LTV of 70%, and terms up to 9 months. They make loans on various types of properties, including single family units, multi family, apartment buildings, office buildings, retail storefronts, and mixed use spaces.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans

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

Areas Served: AZ

Licenses: Arizona Mortgage Broker License #09-1352, NMLS# 310186

Lending Guidelines for Steeple Rock Funding

Below are the general loan guidelines published on the Steeple Rock Funding 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 Steeple Rock Funding.

Loan Example 1

Rosalyn finds a property in Phoenix, AZ to remodel and re-sell. Since she does not have enough cash available to purchase the $220,000 project outright, she takes out a fix-and-flip loan from Steeple Rock Funding. The loan to value (LTV) on the note is 85%. This means Rosalyn will have to bring 15% of the purchase price to closing and the principle will be $187,000 on the note. The rate on the loan is 9% for a length of 6 months and the company requires a one point origination fee at the closing. The interest payments are to be paid monthly and the principle will be returned after the sale of the property.

On top of the $1,870 origination fee, Rosalyn will also need to fund $33,000 of the purchase with her own money, or 15% of the purchase price. she must then pay $1,403 monthly to Steeple Rock Funding. If Rosalyn achieves her goal of a $297,000 sales price when the loan expires, she would pocket a gross profit of $66,715 after repaying the principle on the note and deducting the cash she contributed at closing, the origination points, and the total monthly interest payments.

Loan Example 2

Melisa takes a fix and flip loan from Steeple Rock Funding so she can renovate a townhouse to flip in Phoenix, AZ. The loan has the following parameters:

a) A $340,000 purchase price, b) a 85% loan-to-value (LTV), c) a 6 month term, d) a 12% interest rate, and e) a 1% origination fee.

If Melisa achieves her goal of a $442,000 sales price, the numbers of the deal will be the following:

$442,000 sales price
- $289,000 principle on note (85% LTV)
- $51,000 down payment (15% on 85% LTV)
- $2,890 origination points (1% of the $289,000 principle)
- $17,340 interest payments (6 months x 12% interest)
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= $81,770 total profit (doesn't include taxes or renovation costs)

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