Swiftlend Mortgage
4300 Biscayne Blvd
Miami, FL 33137
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About Swiftlend Mortgage
Swiftlend Mortgage is a hard money lender based in Miami, FL offering loans in Florida. They offer commercial hard money loans and fix-and-flip loans. They offer loans on various property types, including single family residences, multi family residences, office units, retail storefronts, industrial facilities, mixed use buildings, apartments, and warehouse buildings.
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Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial, Mixed Use, Apartment, Warehouse
Areas Served: FL
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Lending Guidelines for Swiftlend Mortgage
Below are the general loan guidelines published on the Swiftlend Mortgage website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Swiftlend Mortgage.
Loan Example 1
Roland closes on a $300,000 rehab project in Miami, FL, using a fix and flip loan from Swiftlend Mortgage. The lender agrees to make a note with a 80% loan-to-value (LTV) so they will loan $240,000 on the house. The parameters of the loan dictate a 13% note for 18 months. They also stipulate a 1 point origination fee, which will also need to be paid when the property closes.
Accordingly, Roland will have to make a $60,000 down payment in addition to paying a $2,400 origination fee. The monthly interest only payments will then be $2,600 to Swiftlend Mortgage. Assuming Roland sells the rehabed project for $450,000 at the end of the 18 month term, his total profit (not accounting for rehab costs) would be $100,800. This is calculated by taking the purchase price ($450,000) and subtracting the original note amount ($240,000), the origination fee ($2,400), the cash he contributed to closing ($60,000), and the total interest payments ($46,800).
Loan Example 2
Ralph is a an investor in Miami, FL. He buys an older property for a renovation project and takes out a private money loan from Swiftlend Mortgage with the following terms:
a) A $240,000 purchase price, b) a 75% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 3% origination fee.
Ralph intends to list the house when the note expires for $348,000. If he succeeds, the final numbers will be the following:
$348,000 sales price
- $180,000 note principle (75% LTV)
- $60,000 cash paid at closing (25% on 75% LTV)
- $5,400 origination fee (3% of the $180,000 principle amount)
- $9,900 total interest paid (6 months x 11% interest)
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= $92,700 gross profit (doesn't include taxes or rehab costs) -
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