Louisiana Bridge Loans
There are 17 lenders offering bridge loans in Louisiana. The mean note amount in this state is $292,438. Rates on hard money loans made to Louisiana investors average about 10.6%. 20 months is the mean term for notes issued in this state. The mean origination fee charged on the loans is 2.9%. Lenders in Louisiana average a 73% loan-to-value on their loans.
Loan Example 1
Micheal finds a townhome in Ruston, LA to renovate and sell. Since he doesn't have enough cash available to acquire the $170,000 project outright, he takes out a bridge loan from Evergreen Finance Corporation . The loan-to-value (LTV) on the deal is 65%. This means Micheal will bring 35% of the purchase price to closing and the principle will be $110,500 on the loan. The loan also has the following features: 1) a 12 month term, 2) a 11% interest only note, and 3) a two point origination fee.
In addition to paying the $2,210 origination fee, Micheal will also have to fund $59,500 of the purchase with his own money, or 35% of the purchase price. After the loan closes, he will need to pay the lender $1,013 in monthly interest payments, or 11% times $110,500 divided by 12 months in the year. At the expiration of the note, he sells the renovated property for $221,000. After subtracting the $12,155 in interest payments ($1,013 times 12 months), the $2,210 origination fee, the $110,500 principle on the note, and the $59,500 he contributed to closing, he will earn a gross profit of $36,635 ($221,000 price minus $184,365 in costs). This amount would then be reduced by any building costs paid by the borrow.
Loan Example 2
Ginger takes a private money bridge loan from Deep Lake Funding so she can renovate a property to resell in Opelousas, LA. The loan has the following terms:
$190,000 purchase price
75% loan-to-value (LTV)
6 month term
10% interest rate
4% origination fee
Ginger plans to list the house when the note expires for $275,500. If she achieves this goal, the outcome will be the following:
$275,500 sales price
- $142,500 principle on note (75% LTV)
- $47,500 down payment (25% on 75% LTV)
- $5,700 origination fee (4% of the $142,500 principle amount)
- $7,125 total interest paid (6 months x 10% interest)
-----------------------
= $72,675 gross profit (does not include taxes or rehab costs)
Anchor Loans is a Calabasas, CA based private lender. They provide loans in 34 states throughout the US. They offer new construction loans, fix-and-flip hard money loans, loans for rental properties, refinancing, hard money bridge loans, and ...
Visio Lending is a hard money lender based in Austin, TX providing loans in 39 states throughout the United States. They provide short term bridge loans, commercial loans, and fix-and-flip hard money loans. They provide rates ...
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
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 ...
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. ...
Sharestates is a Great Neck, NY based hard money lender. They provide loans in 46 states across the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, fix ...
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 ...
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, ...
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 ...
Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan ...
Based in Johnson City, TN, Riverdale Funding is a hard money lender offering loans in 37 states across the country. They provide lending solutions for a variety of scenarios, including loans for investments properties, commercial hard money loans, fix ...
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. ...
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. ...
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 ...
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 ...
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 ...
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 ...
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