
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
Cathedral City, CA has 50 fix-and-flip lenders serving the city. In this city, the median amount for loans is $287,222. The median interest rate for loans in Cathedral City is 9.0%. The median length offered for loans is 15 months. The mean loan includes a 4.1 percent origination cost. The median loan to value (LTV) offered for loans in Cathedral City is 74%.
Olivia closes on a $220,000 renovation project in Cathedral City, CA, using a fix-and-flip loan from BCC Lending. The lender agrees to issue a loan with a 65% loan-to-value (LTV) so they will extend $143,000 on the house. The rate on the note is 9% for a length of 6 months and the company requires a four point origination fee at closing. The interest is to be paid on a monthly basis and the principle amount will be returned after the sale of the property.
Olivia will need to contribute $77,000 to closing (35% on the 65% loan to value), plus she will pay the $5,720 origination fee. Once the loan is executed and Olivia takes over the project, she will have to begin making monthly payments of $1,073 to BCC Lending ($143,000 principle x 9% / 12 months). If Olivia sells the project for $275,000 after 6 months, she would then make a total profit of $42,845 after subtracting the original principle of $143,000, the money contributed at closing of $77,000, the origination fee of $5,720, and the aggregate interest payments of $6,435. This profit does not account for rehab costs.
North Side Funding Group makes a fix and flip loan to Eduardo for a rehab project in Cathedral City, CA. The deal dictates the following:
$230,000 sales price
80% loan to value (LTV)
6 month term
13% interest rate
3% origination fee
If Eduardo achieves his goal of a $333,500 sales price, the numbers of the deal would be the following:
$333,500 sales price
- $184,000 principle (80% LTV)
- $46,000 down payment (20% on 80% LTV)
- $5,520 origination points (3% of the $184,000 principle amount)
- $11,960 interest payments (6 months x 13% interest)
-----------------------
= $86,020 gross profit (does not include taxes or renovation costs)
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
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