Turn-Key Lending & Realty Inc

About Turn-Key Lending & Realty Inc

Turn-Key Lending & Reality Inc is a Sacramento, CA based hard money lender. They offer funding in Sacramento. Their lending focus is mainly on loans for rental properties. They do not require their borrowers to have a minimum credit score to obtain a loan. The focus of their lending is for single family.

Loan Types Offered: Investment Property Loans

Property Types Covered: Single Family

Areas Served: Sacramento

Lending Guidelines for Turn-Key Lending & Realty Inc

Below are the general loan guidelines published on the Turn-Key Lending & Realty Inc 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 Turn-Key Lending & Realty Inc.

Loan Example 1

Turn-Key Lending & Reality Inc makes a private money loan to Misty for a remodeling project in Sacramento, CA, on a property that is listed for $380,000. The borrower will need to fund 50% of the sales price in cash to the closing based on a 50% loan-to-value set by the lender. This makes the principle note from Turn-Key Lending & Reality Inc $190,000. The parameters of the loan also include a three percent origination fee which will be paid at the closing and a 18 month, interest-only note with a 8% rate of interest.

Misty will have to bring $190,000 to closing (50% on the 50% LTV), plus she will need to pay the $5,700 origination fee. Turn-Key Lending & Reality Inc will collect $1,267 in monthly interest from the borrower. This is computed by taking the total note value of $190,000, multiplying that by the 8% rate of interest, and then dividing that amount by 12. If Misty achieves her goal of a $551,000 total sales price when the loan expires, she would make a total profit of $142,500 after re-paying the principle on the note and deducting the money she paid at closing, the origination fee, and the total monthly interest payments.

Loan Example 2

Alexandra takes out a hard money loan from Turn-Key Lending & Reality Inc so she can remodel a townhouse to resell in Sacramento, CA. The deal has the following terms:

a) A $310,000 purchase price, b) a 85% loan to value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 3% origination fee.

Alexandra intends to list the property when the note expires for $449,500. If she accomplishes her goal, the deal numbers would be as follows:

$449,500 sales price
- $263,500 note principle (85% LTV)
- $46,500 cash paid at closing (15% on 85% LTV)
- $7,905 origination points (3% of the $263,500 principle)
- $43,478 interest payments (18 months x 11% interest)
-----------------------
= $88,118 gross profit (doesn't include taxes or rehab costs)

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