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Lithia, FL has 50 private money lenders operating within the city. In this city, the average loan amount is $303,000. Rates on hard money loans made to Lithia borrowers average around 10.7%. The mean loan made in this city has a term of 21 months. The average note includes a 3.0 percent origination charge. Lenders offer on average a 73% LTV on loans in Lithia.
Jack closes on a $180,000 renovation project in Lithia, FL, using a private money bridge loan from West Side Lending Group . The borrower will need to contribute 45% of the sales price in cash to the closing based on a 55% loan-to-value stipulated by the lender. This makes the principle amount from West Side Lending Group $99,000. The parameters of the deal dictate a 8% note for 12 months. They also stipulate a 4 point origination fee, which will also be paid when the property closes.
Accordingly, Jack will be required to contribute a $81,000 down payment plus pay a $3,960 origination fee. After the deal closes, he will pay West Side Lending Group $660 in monthly interest fees, or 8% multiplied by $99,000 divided by 12 months in a year. Jack 's plan is to complete the renovation by the end of the 12 months and resell it for $252,000. If he succeeds he will make a total profit of $60,120 ($252,000 price - $99,000 principle - $81,000 down payment - $3,960 origination fee - $7,920 in interest.
Roland takes a bridge loan from Flippers Funding Company so he can remodel a townhouse to resell in Lithia, FL. The loan has the following terms:
$150,000 sales price
80% loan-to-value (LTV)
12 month term
9% rate of interest
4% origination fee
Roland intends to sell the property at the end of the term for $225,000. If he achieves this goal, the final numbers would be the following:
$225,000 sales price
- $120,000 principle (80% LTV)
- $30,000 down payment (20% on 80% LTV)
- $4,800 origination fee (4% of the $120,000 principle)
- $10,800 total interest paid (12 months x 9% interest)
-----------------------
= $59,400 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 ...
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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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Hard Money Loan Solutions is a Delray Beach, FL based private money lender who provides funding throughout Broward County, Miami-Dade County, Palm Beach County, Hillsborough County, and Lee County. They provide ground up construction loans, commercial loans, cash ...
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1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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Aileron Residential Lending is a Tampa, FL based hard money lender. They offer loans in California and Florida. They offer loans for a variety of situations and needs, including bridge loans and fix-and-flip loans. They offer ...
Based in Aon, CT, Capital Three Sixty is an asset-based lender providing loans in 15 states across the United States. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, loans for investments ...
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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, ...
New Wave Loans is an asset-based lender based in Aventura, FL providing funding throughout New York, Arizona, Illinois, and Florida. They provide lending solutions for a variety of situations, including buy and hold loans, commercial loans, ground up ...
Pepe Berard Capital is hard money lender based in Rye Brook, NY. They provide loans in 12 states across the US. They provide private commercial loans, new construction loans, bridge loans, fix and flip hard money loans, ...
Full Scope Capital is a Glen Burnie, MD based private lender. They offer loans throughout Maryland, Washington DC, Pennsylvania, Virginia, Delaware, New Jersey, and Florida. They offer loans for many different needs and situations, including cash out ...
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 ...
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. ...
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. ...
Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
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 ...
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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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, ...
Based in Santa Ana, CA, Unlimited Capital Group is a private lender offering loans in 15 states across the country. They offer loans for a variety of situations, including fix-and-flip loans, refinancing, bridge loans, loans for rental properties, commercial ...
Lend Core is a Ponte Vedra, FL based hard money lender who offers funding in Florida. They provide loans for many different scenarios, including fix and flip hard money loans, bridge loans, and commercial hard money loans. ...
CIVIC Private Money Lending is a Redondo Beach, CA based hard money lender offering funding in 10 states throughout the country. They provide loans for a variety of scenarios, including private refinancing, fix and flip hard money loans, hard ...
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 ...
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 ...
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