Thorpe Commercial Capital

About Thorpe Commercial Capital

Thorpe Commercial Capital is a New York, NY based hard money lender who offers loans all throughout the US. They offer new construction loans, fix and flip loans, cash out loans, private commercial loans, and buy and hold loans. They provide terms between 3 years and 10 years and loan amounts ranging from $1,000,000 to $75,000,000 with a maximum LTV of 80%. They offer loans on all the following types of properties: single family units, multi family, apartment buildings, offices, retail storefronts, hotels, storage facilities, senior housing communities, and mixed use buildings.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use

Areas Served: National

Lending Guidelines for Thorpe Commercial Capital

Below are the general loan guidelines published on the Thorpe Commercial Capital 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 Thorpe Commercial Capital.

Loan Example 1

Lana is an investor in Fort Worth, TX. She finds a run-down property for sale and wants to rehab it and flip it for a profit. The property has a cost of $160,000 but she does not have the full amount so she obtains a private money loan with Thorpe Commercial Capital. Because the lender agrees to a 65% loan-to-value, Lana will need to put 35% down so the amount of the note will be $104,000. The terms of the loan dictate a 12% note for 18 months. They also stipulate a 3 point origination fee, that will also have to be paid when the property closes.

In accordance with the terms of the note, Lana will be required to contribute a $3,120 origination fee plus 35% of the sales price, or $56,000, since there is a 65% LTV. After the deal is closed and Lana takes on the project, she will begin making monthly payments of $1,040 to Thorpe Commercial Capital ($104,000 principle x 12% / 12 months). If she sells the renovated project for $208,000 at the end of the 18 month term, her total profit (not including remodeling expenses) would be $26,160. This is calculated by taking the sales price ($208,000) and subtracting the original note amount ($104,000), the origination fee ($3,120), the money she contributed to closing ($56,000), and the total interest payments ($18,720).

Loan Example 2

Thorpe Commercial Capital makes a loan to Daryl for a rehab project in Durham, NC. The loan dictates the following:

$250,000 purchase price
80% loan-to-value (LTV)
12 month term
13% interest rate
3% origination fee

If Daryl achieves his goal of a $325,000 sales price, the numbers of the deal will be the following:

$325,000 sales price
- $200,000 loan principle (80% LTV)
- $50,000 cash paid at closing (20% on 80% LTV)
- $6,000 origination fee (3% of the $200,000 principle amount)
- $26,000 total interest paid (12 months x 13% interest)
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= $43,000 gross profit (does not include taxes or renovation costs)

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