Westpark Equity Group

About Westpark Equity Group

Based in Irvine, CA, Westpark Equity Group is a hard money lender providing funding in California. They provide lending solutions for many different situations and needs, including short term fix and flip loans, commercial hard money loans, and short term loans. Their loan parameters are versatile, including terms between 6 months and 7 years and loan amounts ranging from $200,000 to $20,000,000 with a maximum LTV of 70%. They do not require a minimum credit rating to receive a loan. They offer loans on various property types, including multi family, apartments, industrial buildings, office units, retail storefronts, and mixed use spaces.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Bridge Loans

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

Areas Served: CA

Licenses: California Department of Real Estate 01839412, NMLS 282643

Lending Guidelines for Westpark Equity Group

Below are the general loan guidelines published on the Westpark Equity 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 Westpark Equity Group.

Loan Example 1

Ida finds a townhouse in Los Angeles, CA to renovate and resell. Since she does not have enough cash to buy the $210,000 property outright, she decides to take out a fix-and-flip loan from Westpark Equity Group. The lender agrees to make a loan with a 65% loan to value (LTV) so they are willing to loan $136,500 on the property. The loan also consists of these features: 1) a 18 month term, 2) a 8% interest-only note, and 3) a five percent origination charge.

On top of the $6,825 origination fee, Ida will also fund $73,500 of the purchase with her own money, or 35% of the sales price. she must then pay $910 per month to the lender. Assuming Ida sells the rehabed house for $262,500 at the end of the 18 month term, her gross profit (not including renovation costs) would be $29,295. This is calculated by taking the purchase price ($262,500) and subtracting the original principle ($136,500), the origination cost ($6,825), the cash she contributed to closing ($73,500), and the total interest payments ($16,380).

Loan Example 2

Douglas takes out a loan from Westpark Equity Group so he can renovate a property to re-sell in Los Angeles, CA. The loan has the following terms:

a) A $210,000 purchase price, b) a 75% loan to value (LTV), c) a 12 month term, d) a 11% interest rate, and e) a 4% origination fee.

After the rehab project is completed, if Douglas sells the property for $294,000, the final numbers would be as follows:

$294,000 sales price
- $157,500 principle on note (75% LTV)
- $52,500 down payment (25% on 75% LTV)
- $6,300 origination fee (4% of the $157,500 principle amount)
- $17,325 interest payments (12 months x 11% interest)
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= $60,375 gross profit (doesn't include taxes or renovation costs)

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