Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $6 Billion life-to-date in total loan volume to real estate ...
Bridge Loans in Dexter, Michigan
Dexter, MI has 34 private money bridge lenders in the city. The average amount for loans is $293,889. Interest rates on loans issued to Dexter investors average 10.3%. The median length offered for notes is 16 months. The mean note includes a 3.3 point origination cost. 77% is the median loan to value (LTV) offered for for loans in Dexter.
Loan Example 1
Ocean View Investment Group makes a hard money bridge loan to Henry for a rehab project in Dexter, MI, on a property that is listed for $260,000. The loan-to-value (LTV) on the note is 85%. This means Henry will bring 15% of the purchase price to closing and the principle amount will be $221,000 on the loan. The rate on the loan is 14% for a term of 12 months and the lender requires a two point origination fee at closing. The interest is to be paid monthly and the principle will be returned after the sale of the property.
On top of the $4,420 origination fee, Henry will also need to fund $39,000 of the purchase with his own funds, or 15% of the purchase price. After the loan closes, he will pay Ocean View Investment Group $2,578 in monthly interest payments, or 14% times $221,000 divided by 12 months in the year. If Henry sells the house for $364,000 after 12 months, he would realize a gross profit of $68,640 after subtracting the principle amount of $221,000, the cash paid at closing of $39,000, the origination fee of $4,420, and the aggregate interest payments of $30,940. This gross profit does not account for remodeling costs.
Loan Example 2
Sonia is a an investor in Dexter, MI. She buys a run-down property for a remodeling project and obtains a hard money bridge loan from Redwood Finance Company with the following paramters:
$370,000 purchase price
55% loan-to-value (LTV)
6 month term
9% rate of interest
4% origination fee
After the renovation project is complete, if Sonia sells the house for $518,000, the final numbers would be the following:
$518,000 sales price
- $203,500 note principle (55% LTV)
- $166,500 down payment (45% on 55% LTV)
- $8,140 origination fee (4% of the $203,500 principle amount)
- $9,158 total interest paid (6 months x 9% interest)
-----------------------
= $130,703 total profit (doesn't include taxes or renovation costs)
LendingHome Corporation is a San Francisco, CA based private money lender providing loans in 25 states throughout the United States. They provide buy and hold loans, short term loans, and fix and flip loans. They issue ...
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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. ...
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Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
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Asset Avenue
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
Asset Avenue is private money lender based in Los Angeles, CA. They provide loans in 44 states across the United States. They provide loans for a variety of needs and situations, including short term loans, investment property ...
ARC Capital is a Santa Rosa, CA based private lender providing funding in 17 states throughout the country. They offer long term rental property loans, bridge loans, hard money loans for commercial properties, and short term fix and ...
ICG10 Capital is private lender headquartered in Aventura, FL. They offer loans in 44 states throughout the United States. They offer loans for many different scenarios, including short term loans, buy and hold loans, short term fix ...
Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US. They offer lending solutions for a variety of situations and needs, including fix and flip hard ...
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 ...
Aero Capital Finance is a Kissimmee, FL based private lender. They provide loans in 18 states throughout the United States. They offer loans for a variety of scenarios, including private refinancing, fix and flip loans, hard money loans ...
Headquartered in Long Beach, NY, NLDS Corp is a private lender providing funding in 32 states throughout the US. They offer lending solutions for a variety of scenarios, including hard money bridge loans, fix-and-flip hard money loans, investment property ...
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new ...
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
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Render Capital Group is a Hobart, IN based hard money lender. They offer loans in 15 states across the country. They offer loans for a variety of scenarios, including commercial hard money loans, hard money bridge loans, ...
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Dr Daniels and Son is hard money lender headquartered in Bloomfield Hills, MA. They offer funding throughout Michigan. They offer lending solutions for many different scenarios, including commercial loans, bridge loans, and fix-and-flip loans. They ...
Headquartered in Neenah, WI, Peak Choice Capital is a private lender providing funding in 45 states throughout the US. They offer short term bridge loans, buy and hold loans, cash out loans, fix-and-flip loans, and private commercial loans. ...
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Abel Commercial Funding is a Rockville, MD based private lender offering funding throughout the US. They provide commercial hard money loans, short term bridge loans, and fix and flip hard money loans. Their lending parameters are versatile, ...
Direct Money Lenders is an Indianapolis, IN based hard money lender providing funding across the country. They provide loans for many different situations, including cash out hard money loans, hard money bridge loans, commercial loans, and fix and ...
The Madison Group is a Heber City, UT based hard money lender. They provide loans throughout the United States. They provide lending solutions for many different situations, including commercial loans and bridge loans. They provide loan ...
Dominion Mortgage Corporation is a Los Angeles, CA based private money lender. They provide loans all throughout the country. They offer short term loans, refinancing, private commercial loans, and new construction loans. They provide rates ...
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