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 ...
Fix and Flip Loans in Nanuet, New York
Nanuet, NY has 50 fix and flip lenders serving the city. Loan amounts average about $377,188. Interest rates on private loans made to Nanuet borrowers average 11.0%. The mean length for loans is 17 months. The mean loan includes a 2.6 point origination fee. Lenders typically offer a 71% loan-to-value on deals in Nanuet.
Loan Example 1
Allyson is a house flipper in Nanuet, NY. She finds an older property and wants to remodel it and sell it for a profit. The house costs $200,000 but she doesn't have the full amount so she takes out a hard money loan with J & T Finance Group . The loan to value (LTV) on the note is 55%. This means that Allyson will need to bring 45% of the sales price to the closing and the principle will be $110,000 on the note. The deal also consists of the following features: 1) a 6 month term, 2) a 12% interest only note, and 3) a three point origination charge.
Allyson will need to bring a total of $32,400 up front to cover the $90,000 down payment plus the $3,300 origination fee. Once the deal is closed and Allyson takes over the project, she will begin making payments each month of $1,100 to the lender ($110,000 principle x 12% / 12 months). If Allyson achieves her goal of a $300,000 sales price when the loan term expires, she would pocket a gross profit of $90,100 after re-paying the principle amount and subtracting the money she brought to closing, the origination fee, and the monthly interest payments.
Loan Example 2
Wallace takes out a hard money loan from Dynamic Lending Group so he can rehab a townhouse to re-sell in Nanuet, NY. The deal has the following terms:
$400,000 sales price
70% loan-to-value (LTV)
18 month term
11% rate of interest
3% origination fee
Wallace plans to sell the house when the note expires for $520,000. If he achieves this goal, the final numbers would be as follows:
$520,000 sales price
- $280,000 principle on note (70% LTV)
- $120,000 down payment (30% on 70% LTV)
- $8,400 origination fee (3% of the $280,000 principle)
- $46,200 total interest paid (18 months x 11% interest)
-----------------------
= $65,400 gross profit (doesn't include taxes or rehab costs)
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Fairfield Financial Services
Portland, OR
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AJTM Financial Group is a Stamford, CT based hard money lender. They provide funding all across the US. They provide short term fix and flip loans and private commercial loans. Their loan guidelines are flexible, including ...
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
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Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
Global Capital Partners is a New York, NY based private lender. They provide funding across the US. They offer hard money bridge loans, hard money construction loans, refinancing, fix-and-flip loans, hard money loans for commercial properties, and ...
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Gauntlet Funding is private lender headquartered in Melville, NY. They provide loans in New York City. They offer private commercial loans, rental property loans, and fix and flip hard money loans. ...
Manhattan Bridge Capital is a Great Neck, NY based private money lender who offers funding throughout New York City. They provide long term rental property loans, ground-up construction loans, fix and flip loans, and hard money bridge loans. ...
Dimension Equities is a New York, NY based private money lender who provides funding throughout New York City. They provide fix and flip loans, commercial loans, loans for rental properties, short term loans, and cash out loans. ...
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Continental Finance Corporation is private lender headquartered in New York, NY. They offer funding in New York City. They provide lending solutions for many different situations and needs, including new construction loans, loans for rental properties, commercial ...
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Express Hard Money
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