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Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels.
Hoffman Estates, IL has 41 new construction lenders issuing loans in the city. In this city, the median amount for loans is $294,063. The median interest rate for private loans in Hoffman Estates is 11.3%. 14 months is the median term for loans issued in this city. The mean note includes a 3.0 point origination cost. Lenders in Hoffman Estates average a 72% loan-to-value on their loans.
Sam is a home builder and wants to buy a land lot in Hoffman Estates, IL and build a new single family home. Sam estimates the building costs will be about $150,000 and the lot is listed for $400,000. In order to fund the deal, he takes a new construction loan from Rehabbers Funding Company. They agree to make a loan with a 13% interest rate for 12 months and 4 origination points paid at the closing. Additionally, they agree to fund 70% of the aggregate costs (the loan-to-value / "LTV"). There are no pre-payment penalties on the loan and building costs will be paid in several draws. The borrower will be required to pay $4,171 monthly in loan payments in addition to $165,000 down, plus a $15,400 origination charge at closing. After subtracting all costs, Sam will pocket a $174,550 total profit if he achieves his goal of a $790,000 sales price.
Sidney is a home builder who wants to construct a tri-plex on a vacant lot in Hoffman Estates, IL. He gets a new construction loan from Reliance Investments with the following parameters:
a) A $340,000 purchase price for the vacant lot, b) $400,000 in building costs, c) an 55% loan-to-value (LTV), d) a 6 month length, e) a 9% interest rate, and f) a 2 point origination fee.
Sidney intends to list the project when the loan expires for $990,000. If he achievs this goal, the final numbers will be the following:
$990,000 sales price
- $407,000 principle on note (55% LTV)
- $333,000 cash paid at closing (45% on 55% LTV)
- $8,140 origination fee (2% of the $407,000 principle amount)
- $18,315 interest payments (6 months x 9% interest)
-----------------------
= $223,545 total profit
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels.
Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Since its inception in 2011, Lima One Capital has funded over $9 billion in loans for real estate investors who are building, improving, and stabilizing neighborhoods across the nation. Lima One’s core loan products are New Construction loans for ground-up ...
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Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...
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We lend to all different kinds of real estate investors, whether you are an expert or a novice. We provide funding for building from the ground up, fix-and-flip projects, and a range of single- and multi-family rental loans. Start your ...
NEW 2024 Niche Programs - *95% CLTV Bridge, 1-4's & Multi Family Purchases Only, 300k to 5MM,*Deferred Payments for FNF, GUC to 750k,Property Types - 1-4’s, TH, Condo, Portfolios, Multi Family, Mixed Use, Commercial, Purchase, Refi, Cash Out, Rehab, Construction, ...
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