Zinc Financial
1525 E. Shaw Ave
Fresno, CA 93710
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About Zinc Financial
Headquartered in Fresno, California, ZINC Financial, Inc. is one of Central California's largest and oldest Private Money Lenders. We specialize in Residential Fix & Flip, Residential Rehab, and Cash Out Refinance loans. We help investors leverage their capital to acquire and rehab properties for investment purposes.We are a direct lender, so all decisions are made quickly and in-house. We understand that our investors can’t wait for conventional financing and must close their rehab loans quickly. Our quick turnarounds allow our investors to realize faster profits. We will work hard to fund your loan in as little as seven days.By working with ZINC Financial, you have a powerful ally and partner on your side. With our common sense underwriting, you can have the confidence and security that comes with knowing the status of your loan in real time. If you’re ready to learn more about our customizable loan options, don't hesitate to call us at (559) 326-2509 or apply online by clicking the link below.Visit Website
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: AZ, OH, IN, NM, TX, TN, MI, WA, CO, CA
Licenses: CFL No. 6073431
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Lending Guidelines for Zinc Financial
Below are the general loan guidelines published on the Zinc Financial website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: $50,000 - $2,000,000
Available Rates: 7.49% - 10.5%
Typical Terms: 9 months - 12 months
Points Charged: 1.5% - 1.75%
Max Loan-to-Value (LTV): 75%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 640
Time to Close: 7 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Zinc Financial.
Loan Example 1
Camille takes a fix and flip loan from Zinc Financial in order to remodel a property to flip in Houston, TX. The sales price of the house is $350,000. The lender agrees to make a loan with a 70% loan to value (LTV) so they are willing to extend $245,000 on the property. The note is interest only, paid monthly, and is for 12 months at 10% interest with 5 origination points paid when the deal closes.
In accordance with the parameters of the note, Camille will need to pay a $12,250 origination fee plus 30% of the purchase price, or $105,000, based on the 70% LTV. The monthly interest only payments will then be $2,042 to Zinc Financial. Camille's plan is to complete the rehab within the 12 months and resell it for $437,500. If she succeeds she will collect a total profit of $50,750 ($437,500 price - $245,000 principle amount - $105,000 cash paid at closing - $12,250 origination fee - $24,500 in total interest.
Loan Example 2
Marion is a an investor in Houston, TX. He buys a run-down property for a remodeling project and takes out a hard money loan from Zinc Financial with the following features:
$330,000 purchase price
80% loan-to-value (LTV)
12 month term
11% interest rate
2% origination feeIf Marion accomplishes his goal of a $429,000 sales price, the final numbers of the deal will be as follows:
$429,000 sales price
- $264,000 principle (80% LTV)
- $66,000 down payment (20% on 80% LTV)
- $5,280 origination fee (2% of the $264,000 principle)
- $29,040 interest payments (12 months x 11% interest)
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= $64,680 total profit (doesn't include taxes or rehab costs) -
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