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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!
Fallon, NV has 38 private money bridge lenders offering loans in the city. The mean amount loaned in this city is $359,167. Interest rates for private loans average about 11.4%. 38 months is the mean term for loans made in this city. The average hard money loan offered in this city includes a 2.5 point origination charge. Lenders in Fallon average a 74% loan-to-value (LTV) on their loans.
Easy Brook Finance makes a bridge loan to Carol for a rehab project in the Fallon Station neighborhood of Fallon, NV, on a house that costs $200,000. As the lender sets a 60% loan to value, Carol will have to put 40% down and the amount of the note will be $120,000. The terms of the loan also include a five point origination fee which will be paid at the closing and a 6 month, interest-only note with a 8% interest rate.
On top of the $6,000 origination fee, Carol will also need to fund $80,000 of the purchase with her own money, or 40% of the sales price. Once the deal closes, she will need to pay Easy Brook Finance $800 in monthly interest payments, or 8% multiplied by $120,000 divided by 12 months in a year. If she sells the renovated project for $270,000 at the end of the 6 month term, her gross profit (not including renovation expenses) would be $59,200. This is calculated by taking the sales price ($270,000) and subtracting the principle ($120,000), the origination cost ($6,000), the funds she brought to closing ($80,000), and the total interest payments ($4,800).
Blue Door Finance Corporation makes a private money bridge loan to Dana for a remodeling project in the Fallon Station area of Fallon, NV. The loan includes the following:
$200,000 purchase price
65% loan-to-value (LTV)
6 month term
14% rate of interest
1% origination fee
Dana plans to sell the project at the end of the term for $240,000. If she achieves this goal, the final numbers will be as follows:
$240,000 sales price
- $130,000 loan principle (65% LTV)
- $70,000 down payment (35% on 65% LTV)
- $1,300 origination fee (1% of the $130,000 principle)
- $9,100 interest payments (6 months x 14% interest)
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= $29,600 total profit (does not include taxes or renovation costs)
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!
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Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
Gokapital, Inc. is a Miami, FL based private lender who provides funding all throughout the US.Providing lending solutions for a variety of situations, including loans for rental properties, cash out, hard money loans, fix-and-flip loans, hard money loans for commercial ...
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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 ...
Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...
Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
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