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Key West, FL has 50 lenders operating within the city. In this city, the average loan amount is $378,269. Interest rates for hard money loans average 11.0%. The median loan issued in this city is for 19 months. The mean origination percentage charged on the loans is 2.1%. Lenders typically offer a 71% loan-to-value on hard money loans in Key West.
Investors Funding Corporation makes a hard money bridge loan to Angel for a remodeling project in Key West, FL, on a property that costs $350,000. The loan to value (LTV) on the note is 55%. This means that Angel will need to bring 45% of the purchase price to the closing and the principle amount will be $192,500 on the deal. The loan also has the following features: 1) a 18 month length, 2) a 8% interest-only note, and 3) a two percent origination fee.
The borrower must bring a total of $32,400 upon closing to pay the $157,500 down payment plus the $3,850 origination fee. The lender will collect $1,283 in monthly interest from the Angel . This is computed by taking the total loan amount of $192,500, multiplying that by the 8% rate of interest, and then dividing that number by 12. If Angel achieves his goal of a $525,000 sales price at the end of the loan term, he would collect a total profit of $148,050 after repaying the principle and deducting the money he brought to closing, the origination fee, and the monthly interest payments.
Daniel takes a hard money bridge loan from Acme Funding so he can rehab a townhome to resell in Key West, FL. The loan has the following parameters:
a) A $400,000 purchase price, b) a 50% loan-to-value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 1% origination fee.
After the rehab project is finished, if Daniel sells the property for $580,000, the final numbers would be the following:
$580,000 sales price
- $200,000 note principle (50% LTV)
- $200,000 down payment (50% on 50% LTV)
- $2,000 origination points (1% of the $200,000 principle amount)
- $9,000 interest payments (6 months x 9% interest)
-----------------------
= $169,000 total profit (does not include taxes or renovation costs)
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Portland, OR
Fairfield Financial Services is private lender headquartered in Portland, OR. They provide funding in 11 states across the United States. They offer private commercial loans, hard money refinancing, fix-and-flip hard money loans, and short term bridge ...
Headquartered in Lakehurst, NJ, Alpha Funding Solutions is a hard money lender providing funding throughout New Jersey, Connecticut, Pennsylvania, New York, Maryland, Delaware, and Florida. They offer hard money bridge loans, long term rental property loans, private commercial ...
Temple View Capital is private lender headquartered in Bethesda, MD. They provide loans in 20 states throughout the US. They provide short term fix and flip loans, cash out loans, private commercial loans, loans for rental properties, ...
Capstone Financial is a Scottsdale, AZ based hard money lender who provides loans all across the US. They provide lending solutions for a variety of needs and situations, including cash out loans, fix and flip hard money loans, short ...
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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 ...
Global Capital Partners is a New York, NY based private lender. They provide funding across the US. They offer hard money bridge loans, hard money construction loans, refinancing, fix-and-flip loans, hard money loans for commercial properties, and ...
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London Financial is a Key Biscayne, FL based hard money lender. They offer loans in Broward County, Miami-Dade County, Palm Beach County, and Monroe County. They provide loans for a variety of scenarios, including hard money loans ...
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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 ...
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. ...
Refresh Real Estate Funding is hard money lender headquartered in Miami Beach, FL. They offer funding throughout Florida. They offer lending solutions for a variety of needs and situations, including fix and flip loans, new construction loans, ...
AHL Private Money is a private money lender based in Tampa, FL providing loans in Florida. They offer lending solutions for many different situations and needs, including fix-and-flip loans, private commercial loans, investment property loans, hard money refinancing, ...
Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States. They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...
Commercial Capital Limited is a Weston, FL based private lender who offers funding in Florida. They provide lending solutions for many different scenarios, including private commercial loans and short term bridge loans. Their loan guidelines are versatile, including ...
Westmoore Group is private lender based in Atlanta, GA. They offer loans in Georgia and Florida. They provide hard money loans for commercial properties and short term bridge loans. They offer loans ...
Rock East Group LLC is an Islandia, NY based private money lender. They offer loans throughout New York, New Jersey, Connecticut, and Florida. They offer loans for many different situations, including rental property loans, private commercial loans, ...
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EquityMax is a private money lender headquartered in Fort Lauderdale, FL providing funding in Florida. They provide buy and hold loans, hard money bridge loans, fix-and-flip hard money loans, refinancing, and commercial loans. Their lending guidelines are ...
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BridgeInvest is a Miami, FL based private money lender who offers loans throughout Georgia, Florida, Texas, and North Carolina. They provide loans for many different scenarios, including fix and flip hard money loans, cash out loans, short term ...
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 ...
Helvetica Funding Group is a Carlsbad, CA based private money lender who offers loans in California, Arizona, Florida, Oregon, and Texas. They provide hard money loans for commercial properties, private refinancing, fix and flip hard money loans, hard ...
Rehab Financial Group is hard money lender based in Rosemont, PA. They offer loans in 15 states across the US. They offer lending solutions for a variety of scenarios, including fix and flip loans, short term loans, ...
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