Michigan Refinance / Cash Out Loans
There are 17 lenders offering refinancing in Michigan. The average loan made to borrowers is about $298,148. Interest rates for loans average around 10.7%. 29 months is the average length for loans made in the state. The average origination fee charged for loans is 3.1%. Lenders in Michigan average a 73% loan-to-value (LTV) on their loans.
Loan Example 1
Leslie owns and operates a business in Westland, MI. He runs his operations out of a commercial building that he owns outright. He makes a deal with his partner to purchase their piece of the business but he does not have the fund for the deal. To make the deal move forward, he takes cash out of the equity he has in his property via a private money cash out refi loan through Investors Investments . After deeming the building to be worth about $900,000, the lender agrees to a 45% loan-to-value (LTV) on the loan. The other parameters of the deal are as follows : 1) a 9% interest rate, 2) a 2 year length with interest-only payments paid monthly, and 3) 2 points paid at closing. By the stipulations of this deal, Investors Investments will give Leslie a sum of $396,900 on his building ($900,000 estimated market value x 45% loan-to-value - $8,100 in origination points). Leslie will pay $3,038 monthly in interest payments until the loan expires and will then repay the $405,000 face amount of the loan.
Loan Example 2
Sheri owns a a retail space for her company's operations in Westland, MI. She comes to an arrangement with her business partner to purchase their ownership of the business but she doesn't have enough personal cash for the deal. In order to make the deal happen, she takes money out of the equity in her building through a private money cash out refinance loan from All State Lending Company . The lender does a valuation analysis and determines the real estate to be worth $1,400,000. They will loan Sheri 60% of this market value (the LTV). The lender will subtract 3 origination points at closing and will be paid interest only payments at 8% for 2 years. The principle is to be re-paid in a single balloon sum when the note expires. The principle amount will be $840,000 but All State Lending Company will front Sheri $814,800 after charging the origination points of $25,200. Additionally, they will receive $5,600 in monthly interest until they are repaid when the note expires.
Layla Capital is a direct, private bridge lender headquartered in New York, NY, and focused on making loans all around the East Coast and other major cities throughout the continental U.S. Layla provides loans ranging from $750,000 to $15,000,000 on property ...
Global Capital Partners
274 Madison Avenue, Suite 901
New York, NY 10016
A diverse portfolio of lending services, an experienced in-house underwriting staff, and the ability to tailor financing options to a client's individual needs have made Global Capital Partners a household name in New York's commercial lending industry. Global Capital Partners has long provided ...
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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 $6.6 Billion life-to-date in total loan volume to real estate ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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 ...
Temple View Capital
7500 Old Georgetown Road, Suite 1375
Bethesda, MD 20814
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, ...
Patch of Land
15000 Ventura Blvd Ste 202
Sherman Oaks, CA 91403
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. ...
1010 NE 2nd Ave
Miami Beach, FL 33132
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 ...
11 Middle Neck Road Suite 314
Great Neck, NY 11021
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 ...
Peak Choice Capital
144 N Western Avenue Buidling D
Neenah, WI 54956
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. ...
100 Lanidex Plaza
Parsippany, NJ 07054
Stratton Equities is the Nationwide leading hard money lender. We are passionate about helping small business owners, contractors, and Real Estate investors, swiftly and efficiently finance their investment goals. We customize our hard money loan programs for each unique project ...
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 ...
Sunset Equity Funding
3435 Wilshire #1840
Los Angeles, CA 90010
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 ...
Aero Capital Finance
439 W Vine St
Kissimmee, FL 34741
Aero Capital Finance is a Kissimmee, FL based private lender. They provide loans in 18 states throughout the United States. They offer loans for a variety of scenarios, including private refinancing, fix and flip loans, hard money loans ...
Bridge Well Capital
496 Delaney Ave #408
Orlando, FL 32801
Bridge Well Capital is a hard money lender in Orlando, FL offering funding in 40 states throughout the United States. They provide loans for investments properties, cash out hard money loans, and fix-and-flip hard money loans. Their ...
75 Gerber Road East
South Windsor, CT 06074
Headquartered in South Windsor, CT, RCN Capital is national, direct, private lender providing funding in 44 states across the country. Established in 2010, we provide short-term and long-term commercial loans ranging from $50k to $2.5M+ for the purchase of non-owner occupied ...
Lima One Capital
201 East McBee Ave, Suite 300
Greenville, SC 29601
Lima One Capital is a hard money lender based in Greenville, SC providing loans in 40 states across the US. They offer loans for many different scenarios, including fix-and-flip hard money loans, construction loans, refinancing, and investment property ...
Investor Rehab Funding
1995 North Park Place SE, Suite 415
Atlanta, GA 30339
Investor Rehab Funding is hard money lender headquartered in Atlanta, GA. They provide loans in 40 states throughout the US. They offer fix-and-flip hard money loans, private refinancing, investment property loans, and new construction loans. ...