
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!
A total of 50 records for private money lenders were found in Birmingham, AL. The mean loan amount in the city is $311,072. Interest rates on private loans made to Birmingham borrowers average about 10.7%. The mean loan issued in this city has a term of 38 months. The average loan includes a 3.0 percent origination cost. Lenders in Birmingham average a 71% LTV on their deals.
Leticia takes a loan from Evergreen Funding Company in order to remodel a townhouse to flip in Birmingham, AL. The sales price of the house is $220,000. The loan to value (LTV) on the note is 60%. This means that Leticia will have to bring 40% of the sales price to closing and the principle amount will be $132,000 on the loan. The rate on the loan is 13% for a term of 12 months and the lender requires a one point origination fee at the close. The interest is to be paid monthly and the principle will be repaid after the sale of the property.
According to the terms of the note, Leticia will be required to contribute a $1,320 origination fee plus 40% of the sales price, or $88,000, based on the 60% LTV. Evergreen Funding Company will collect $1,430 in monthly interest from the Leticia. This is calculated by taking the full loan value of $132,000, multiplying by the 13% rate of interest, and then dividing that number by 12. At the end of the loan, she sells the rehabed house for $297,000. After subtracting the $17,160 in total interest payments ($1,430 multiplied by 12 months), the $1,320 origination fee, the $132,000 principle amount on the loan, and the $88,000 she brought to closing, she will make a gross profit of $58,520 ($297,000 sales price minus $238,480 in total costs). This amount would then be reduced by any building costs paid by the borrow.
Downtown Investment Group makes a loan to Rene for a remodeling project in Birmingham, AL. The loan dictates the following:
a) A $310,000 purchase price, b) a 50% loan-to-value (LTV), c) a 6 month term, d) a 14% interest rate, and e) a 1% origination fee.
Assuming a $465,000 sales price at the end of the 6 month term, the outcome for the project would look like the following:
$465,000 sales price
- $155,000 note principle (50% LTV)
- $155,000 cash paid at closing (50% on 50% LTV)
- $1,550 origination fee (1% of the $155,000 principle)
- $10,850 total interest paid (6 months x 14% interest)
-----------------------
= $142,600 total 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!
"WE LEND YOU GROW" Nationwide Premiere Lender. We offer fix and flips at 100% purchase, 100% rehab with 65% ARV. Lowest rates, flexible terms, easy process, fast approval and fast closing!"
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Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
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