Westar Lending Group

About Westar Lending Group

Westar Lending Group is a Taezana, CA based hard money lender offering funding throughout California. They offer loans for many different needs and situations, including short term fix and flip loans, loans for investments properties, private refinancing, and hard money loans for commercial properties. Their lending parameters are flexible, including loan amounts ranging from $50,000 to $1,500,000 with a maximum LTV of 70%. They offer loans on various types of properties, including single family homes, multi family residences, mixed use buildings, retail units, office buildings, and industrial facilities.

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

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

Areas Served: CA

Licenses: California Department of Real Estate, License # 00817997

Lending Guidelines for Westar Lending Group

Below are the general loan guidelines published on the Westar Lending Group 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 Westar Lending Group.

Loan Example 1

Frederick closes on a $160,000 renovation project in Los Angeles, CA, using a hard money loan from Westar Lending Group. The lender agrees to issue a note with a 75% loan to value (LTV) so they will extend $120,000 on the property. The deal also includes these features: 1) a 18 month term, 2) a 13% interest-only note, and 3) a two point origination fee.

In accordance with the parameters of the loan, Frederick will have to contribute a $2,400 origination fee in addition to 25% of the sales price, or $40,000, based on the 75% LTV. After the deal closes, he will need to pay the lender $1,300 in monthly interest fees, or 13% times $120,000 divided by 12 months in the year. If Frederick sells the house for $232,000 after 18 months, he would then realize a gross profit of $46,200 after deducting the principle of $120,000, the funds paid at closing of $40,000, the origination points of $2,400, and the total interest payments of $23,400. This gross profit doesn't include building costs.

Loan Example 2

Westar Lending Group issues a fix and flip loan to Jerry for a renovation project in Los Angeles, CA. The loan includes the following:

$230,000 sales price
85% loan-to-value (LTV)
12 month term
13% rate of interest
1% origination fee

Assuming a $310,500 sales price after the 12 month term, the numbers for this project would look like the following:

$310,500 sales price
- $195,500 principle on note (85% LTV)
- $34,500 cash paid at closing (15% on 85% LTV)
- $1,955 origination points (1% of the $195,500 principle)
- $25,415 total interest paid (12 months x 13% interest)
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= $53,130 gross profit (doesn't include taxes or rehab costs)

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