Thrive Lending

About Thrive Lending

Thrive Lending is hard money lender based in Austin, TX. They offer funding throughout Dallas, Houston, Austin, San Antonio, and Fort Worth. They offer loans for a variety of situations and needs, including new construction loans, fix-and-flip hard money loans, buy and hold loans, and commercial loans. They provide loan amounts starting at $200,000 and terms up to 1 year. They do not require their borrowers to have a minimum credit rating to obtain a loan. They make loans on most property types, including single family residences, multi family, apartments, office buildings, retail storefronts, and raw land.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Land

Areas Served: Dallas, Houston, Austin, San Antonio, Fort Worth

Lending Guidelines for Thrive Lending

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

Loan Example 1

Angelia is an investor in Dallas, TX. She discovers a run-down property and decides to remodel it and sell it for a profit. The house has a cost of $320,000 but she does not have the full amount so she takes a private money loan with Thrive Lending. The loan to value (LTV) on the deal is 55%. This means Angelia will have to bring 45% of the sales price to the closing and the principle will be $176,000 on the note. The terms of the loan dictate a 12% note for 12 months. They also stipulate a 2 point origination fee, that will also have to be paid upon closing.

On top of the $3,520 origination fee, Angelia will also need to fund $144,000 of the purchase with her own funds, or 45% of the sales price. After the loan closes, she will pay Thrive Lending $1,760 in monthly interest fees, or 12% multiplied times $176,000 divided by 12 months in a year. Angelia's plan is to finish the project within the 12 months and resell it for $480,000. If she succeeds she will make a profit of $135,360 ($480,000 price - $176,000 principle - $144,000 down payment - $3,520 origination fee - $21,120 in total interest payments.

Loan Example 2

Keith is a an investor in Dallas, TX. He finds an older townhouse for a rehab project and takes a private money loan from Thrive Lending with the following paramters:

a) A $250,000 purchase price, b) a 55% loan-to-value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 2% origination fee.

If Keith accomplishes his goal of a $362,500 sales price, the final numbers of the deal would be the following:

$362,500 sales price
- $137,500 principle on note (55% LTV)
- $112,500 down payment (45% on 55% LTV)
- $2,750 origination points (2% of the $137,500 principle)
- $22,688 total interest paid (18 months x 11% interest)
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= $87,063 total profit (does not include taxes or renovation costs)

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