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Simi Valley, CA has 50 private money bridge lenders in the city. The average amount for loans is $331,500. Interest rates on loans issued to Simi Valley investors average 9.6%. The median length offered for notes is 20 months. The mean note includes a 3.8 point origination cost. 75% is the median loan to value (LTV) offered for for loans in Simi Valley.
Shauna takes a hard money bridge loan from Acme Finance in order to rehab a townhouse to resale in Simi Valley, CA. The sales price of the house is $200,000. The borrower will be required to bring 20% of the purchase price in cash to closing based on a 80% loan-to-value stipulated by the lender. This makes the principle note from Acme Finance $160,000. The loan also includes these features: 1) a 6 month length, 2) a 13% interest-only note, and 3) a five percent origination fee.
In accordance with the parameters of the deal, Shauna will have to contribute a $8,000 origination fee in addition to 20% of the purchase price, or $40,000, based on the 80% LTV. The monthly interest-only payments will then total $1,733 to the lender. If Shauna accomplishes her goal of a $250,000 sales price when the loan expires, she would earn a gross profit of $31,600 after repaying the principle amount and deducting the money she brought to closing, the origination fee, and the total monthly interest payments.
Sherri locates a property in Simi Valley, CA to remodel and sell. Since she does not have enough cash to buy the property outright, she takes a bridge loan from Progressive Funding with the following parameters:
$300,000 purchase price
80% loan to value (LTV)
18 month term
11% rate of interest
3% origination fee
Based on a $375,000 sales price at the end of the 18 month term, the numbers for this project would look like the following:
$375,000 sales price
- $240,000 note principle (80% LTV)
- $60,000 cash paid at closing (20% on 80% LTV)
- $7,200 origination points (3% of the $240,000 principle)
- $39,600 interest payments (18 months x 11% interest)
-----------------------
= $28,200 gross profit (doesn't include taxes or renovation costs)
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Macoy Capital is private money lender based in Beverly Hills, CA. They offer loans in California. They provide hard money refinancing, short term loans, private commercial loans, loans for rental properties, construction loans, and fix-and-flip loans. ...
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Wilshire Quinn Capital is a San Diego, CA based private lender. They offer loans in California. They provide fix and flip hard money loans, commercial hard money loans, bridge loans, and loans for rental properties. Their ...
Aztec Financial is an asset-based lender in Burbank, CA offering loans throughout California. They provide lending solutions for a variety of situations, including hard money refinancing, loans for rental properties, builder loans, fix-and-flip loans, short term loans, and ...
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Portland, OR
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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 ...
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RLS Mortgage is a Phoenix, AZ based private lender. They provide loans in Arizona, California, and Nevada. They offer fix and flip hard money loans, rental property loans, private refinancing, new construction loans, commercial loans, and ...
North Coast Financial is a hard money lender in Oceanside, CA providing loans throughout California. They offer lending solutions for many different situations, including refinancing, commercial loans, construction loans, hard money bridge loans, buy and hold loans, and ...
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HML Investments is hard money lender headquartered in Los Angeles, CA. They provide loans throughout California. They offer short term loans, cash out loans, long term rental property loans, hard money loans for commercial properties, 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 ...
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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Based in Tustin, CA, Alta Equities is a hard money lender providing funding throughout San Diego County, Orange County, Los Angeles County, Riverside County, San Bernardino County, Imperial County, and Ventura County. They provide lending solutions for many ...
Headquartered in San Diego, CA, Louie Loans is a private lender offering funding in San Diego County, Orange County, Los Angeles County, Riverside County, San Bernardino County, Imperial County, and Ventura County. They offer hard money construction loans, ...
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Source Capital is an asset-based lender headquartered in Los Angeles, CA offering loans in California, Arizona, and Minnesota. They provide loans for a variety of situations and needs, including bridge loans, fix-and-flip loans, hard money refinancing, and ...
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