Mississippi Bridge Loans
Mississippi has 17 bridge lenders serving the state. The average amount loaned is $294,261. The average rate for private loans in Mississippi is 10.5%. The mean term for notes is 18 months. The average loan made in this state carries a 2.6 percent origination fee. Lenders offer on average a 73% loan to value on deals in Mississippi.
Loan Example 1
Madeline closes on a $400,000 renovation project in Horn Lake, MS, using a hard money bridge loan from BCC Finance Group . The loan-to-value (LTV) on the note is 60%. This means that Madeline will bring 40% of the sales price to the closing and the principle will be $240,000 on the loan. The loan also consists of these features: 1) a 18 month length, 2) a 11% interest only note, and 3) a three point origination charge.
In addition to paying the $7,200 origination fee, Madeline will also have to fund $160,000 of the purchase with her own cash, or 40% of the sales price. The monthly interest only payments will then total $2,200 to BCC Finance Group . If Madeline sells the property for $560,000 after 18 months, she would make a gross profit of $113,200 after subtracting the principle amount of $240,000, the money paid at closing of $160,000, the origination points of $7,200, and the total interest payments of $39,600. This gross profit does not account for building costs.
Loan Example 2
Faye finds a property in Picayune, MS to renovate and resell. Since she does not have enough cash to buy the property outright, she takes a private money bridge loan from Green Fern Investment Company with the following parameters:
$330,000 purchase price
70% loan-to-value (LTV)
6 month term
14% interest rate
4% origination fee
If Faye achieves her goal of a $412,500 sales price, the final numbers of the deal will be the following:
$412,500 sales price
- $231,000 loan principle (70% LTV)
- $99,000 cash paid at closing (30% on 70% LTV)
- $9,240 origination points (4% of the $231,000 principle amount)
- $16,170 interest payments (6 months x 14% interest)
-----------------------
= $57,090 total profit (does not include taxes or rehab costs)
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 ...
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...
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 ...
Patch of Land is an asset-based lender based in Los Angeles, CA offering funding all throughout the US. They offer short term bridge loans, private commercial loans, long term rental property loans, refinancing, and fix and flip loans. ...
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, ...
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
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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 ...
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. ...
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
Your Information is Processing