Alaska Bridge Loans
Alaska has 16 private money bridge lenders in the state. In this state, the average amount for loans is $287,500. Interest rates for private loans average about 11.2%. The typical term offered for notes is 20 months. The mean origination percentage added to loans is 2.6%. The typical loan-to-value (LTV) offered for loans in Alaska is 73%.
Loan Example 1
Dolly closes on a $250,000 rehab project in Eagle River, AK, using a hard money bridge loan from Top Notch Funding Group. The loan to value (LTV) on the note is 65%. This means that Dolly will have to bring 35% of the purchase price to the closing and the principle amount will be $162,500 on the note. The loan is interest-only, with monthly payments, and is for 6 months at 11% interest with 1 points to be paid when the deal closes.
In addition to paying the $1,625 origination fee, Dolly will also need to fund $87,500 of the purchase with her own cash, or 35% of the purchase price. Top Notch Funding Group will collect $1,490 in monthly interest from the Dolly. This is computed by taking the total loan amount of $162,500, multiplying by the 11% interest rate, and then dividing that amount by 12. At the end of the note, she sells the renovated house for $350,000. After subtracting the $8,938 in interest payments ($1,490 multiplied by 6 months), the $1,625 origination fee, the $162,500 principle amount on the note, and the $87,500 she contributed to the closing, she will make a total profit of $89,438 ($350,000 sales price minus $260,563 in total costs). This amount would be reduced by any renovation costs paid by Dolly.
Loan Example 2
Carlos locates a duplex in Juneau, AK to rehab and resell. Because he does not have enough cash to buy the property outright, he takes a hard money bridge loan from West Shore Finance Company with the following parameters:
$290,000 sales price
85% loan to value (LTV)
18 month term
9% rate of interest
5% origination fee
After the rehab project is complete, if Carlos sells the house for $420,500, the numbers would be the following:
$420,500 sales price
- $246,500 note principle (85% LTV)
- $43,500 cash paid at closing (15% on 85% LTV)
- $12,325 origination fee (5% of the $246,500 principle amount)
- $33,278 total interest paid (18 months x 9% interest)
-----------------------
= $84,898 gross profit (doesn't include taxes or renovation costs)
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
We offer all types of Residential and Commercial loans to meet your specific needs. Capital Funding Services Corporation has funding partners nationwide to Get the Funding You Need right away!
Temple View Capital
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Patch of Land
15000 Ventura Blvd Ste 202
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Gelt Financial
5300 W Atlantic Ave,, Suite 205
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LOAN FUNDr
34 South Broadway, Suite 204
White Plains, NY 10601
(212) 634-7899 - Loan Fundr a premier Nationwide asset-based lender using technology to close loans fast. We think creatively, providing fair and transparent loans that get our clients what they need.
PB Financial Group
6380 Wilshire Blvd #1610
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T&M Commercial Funding
259 Minot Ave
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T&M Commercial Funding is an Auburn, ME based private lender who provides loans in 47 states across the US. They provide lending solutions for a variety of situations and needs, including bridge loans and commercial hard money loans. ...
Sharestates
11 Middle Neck Road Suite 314
Great Neck, NY 11021
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Capital Funding Services
3250 NE 1st Ave, Suite 305
Miami, FL 33137
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Grand Coast Capital Group
1515 Hancock Street, Suite 404
Quincy, MA 02169
Grand Coast Capital Group is a Quincy, MA based private lending and investment firm that provides creative financing solutions to local real estate investors, operators, and developers across the country.We offer loans for a variety of situations, including commercial loans, ...
Red Rock Capital
2139 Chuckwagon Road, Suite 315
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Riverdale Funding
207 Mockingbird Ln, #402
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Island View Private Loan Fund
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Allied Commercial Funding
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Allied Commercial Funding is private lender headquartered in Agoura Hills, CA. They provide funding in 43 states throughout the US. They provide lending solutions for a variety of situations and needs, including hard money loans for commercial ...
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