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 Lunenburg, Massachusetts
There are 50 hard money lenders operating in Lunenburg, MA. The average note issued to borrowers is approximately $321,667. Rates on hard money loans made to Lunenburg borrowers average around 11.6%. The mean length for loans is 18 months. The mean note includes a 2.8 point origination fee. Lenders typically offer a 71% loan-to-value on deals in Lunenburg.
Loan Example 1
Bob is a real estate investor in Lunenburg, MA. He finds an older property and decides to remodel it and flip it for a profit. The house costs $350,000 but he doesn't have the full amount so he takes out a private money bridge loan with Superior Lending . Because the lender agrees to a 50% loan-to-value, Bob will be required to put 50% down and the total amount of the loan will be $175,000. The parameters of the note also stipulate a one point origination fee that will be paid at the closing and a 18 month, interest-only note with a 8% rate of interest.
By the terms of the note, Bob will be required to pay a $1,750 origination fee plus 50% of the purchase price, or $175,000, based on the 50% LTV. Once the loan is closed and Bob takes the property, he will have to begin making payments each month of $1,167 to Superior Lending ($175,000 principle x 8% / 12 months). At the end of the note, he sells the rehabed house for $472,500. After deducting the $21,000 in total interest payments ($1,167 times 18 months), the $1,750 origination fee, the $175,000 principle amount on the note, and the $175,000 he brought to the closing, he will make a total profit of $99,750 ($472,500 price minus $372,750 in costs). This profit would be reduced by any building costs paid out of pocket.
Loan Example 2
Ernest locates a house in Lunenburg, MA to renovate and re-sell. Because he does not have enough cash to buy the property outright, he takes a private money bridge loan from Evergreen Funding Corporation with the following parameters:
$160,000 sales price
65% loan-to-value (LTV)
12 month term
10% interest rate
3% origination fee
After the rehab project is completed, if Ernest sells the project for $240,000, the final numbers would be the following:
$240,000 sales price
- $104,000 loan principle (65% LTV)
- $56,000 down payment (35% on 65% LTV)
- $3,120 origination fee (3% of the $104,000 principle)
- $10,400 total interest paid (12 months x 10% interest)
-----------------------
= $66,480 total profit (doesn't include taxes or rehab costs)
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Headquartered in Providence, RI, Northborough Capital Partners is an asset-based lender offering funding in Massachusetts, New Hampshire, Rhode Island, Maine, and Connecticut. They offer loans for a variety of situations, including refinancing, ground up construction loans, fix-and-flip loans, ...
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Asset Avenue
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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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 ...
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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, ...
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 ...
Father & Son Private Money Lending is a hard money lender providing loans in Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut. They provide fix-and-flip hard money loans, private refinancing, ground up construction loans, commercial loans, ...
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Headquartered in Wellesley, MA, Pro Builder Financial is a hard money lender offering funding throughout New Hampshire, Massachusetts, Connecticut, Rhode Island, and Maine. They offer commercial hard money loans, construction loans, fix and flip loans, buy and hold ...
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 ...
Lend Some Money is hard money lender headquartered in East Haven, CT. They offer loans throughout Massachusetts, Connecticut, Rhode Island, New Hampshire, and New York. They offer loans for many different scenarios, including short term loans, ...
Gala Resources is private lender headquartered in New York, NY. They offer funding in 8 states throughout the country. They offer private refinancing, rental property loans, fix-and-flip hard money loans, bridge loans, hard money loans for commercial ...
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