LendingHome Corporation is a San Francisco, CA based private money lender providing loans in 25 states throughout the United States. They provide buy and hold loans, short term loans, and fix and flip loans. They issue ...
Hard Money Loans in Bridgeport, Connecticut
Bridgeport, CT has 50 private money lenders in the city. Loan amounts average approximately $300,000. Interest rates on hard money loans made to Bridgeport borrowers average about 11.8%. The average loan made in the city is for 35 months. The average hard money loan made in this city includes a 2.4 percent origination cost. Lenders in Bridgeport average a 75% LTV on their loans.
Loan Example 1
Franklin finds a house in Bridgeport, CT to remodel and sell. Since he does not have enough cash on-hand to acquire the $210,000 project outright, he takes out a private money loan from Superior Lending Company . The loan-to-value (LTV) on the loan is 65%. This means that Franklin will need to bring 35% of the purchase price to closing and the principle will be $136,500 on the loan. The rate on the note is 11% for a term of 18 months and the company requires a five point origination fee at the close. The interest payments are to be paid monthly and the principle amount will be repaid after the sale of the property.
In addition to paying the $6,825 origination fee, Franklin will also have to fund $73,500 of the purchase with his own money, or 35% of the purchase price. The monthly interest-only payments will then total $1,251 to the lender. If Franklin meets his goal of a $252,000 sales price when the loan expires, he would collect a gross profit of $12,653 after repaying the principle on the note and deducting the cash he paid at closing, the origination points, and the total monthly interest payments.
Loan Example 2
Shelia locates a property in Bridgeport, CT to remodel and sell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Blue Mountain Lending Company with the following parameters:
$220,000 purchase price
85% loan to value (LTV)
6 month term
11% rate of interest
2% origination fee
After the rehab project is complete, if Shelia sells the house for $286,000, the outcome would be as follows:
$286,000 sales price
- $187,000 note principle (85% LTV)
- $33,000 cash paid at closing (15% on 85% LTV)
- $3,740 origination points (2% of the $187,000 principle)
- $10,285 total interest paid (6 months x 11% interest)
-----------------------
= $51,975 total profit (does not include taxes or renovation costs)
Conventus is a San Francisco, CA based private lender. They provide funding in 10 states throughout the US. They provide fix-and-flip loans, private commercial loans, cash out hard money loans, and rental property loans. Their loan ...
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Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
Based in Rockville, MD, ACC Mortgage is a hard money lender offering loans in 16 states across the country. They offer fix and flip loans, commercial loans, private refinancing, and buy and hold loans. Their loan parameters ...
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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 ...
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
Dominion Financial is private lender headquartered in Baltimore, MD. They offer funding in 36 states across the US. Their focus is mainly on fix-and-flip loans. The focus of their loans is for ...
Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US. They offer lending solutions for a variety of situations and needs, including fix and flip hard ...
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
Gala Resources is private lender headquartered in New York, NY. They offer funding in 8 states throughout the country. They offer private refinancing, rental property loans, fix-and-flip hard money loans, bridge loans, hard money loans for commercial ...
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 ...
Pepe Berard Capital is hard money lender based in Rye Brook, NY. They provide loans in 12 states across the US. They provide private commercial loans, new construction loans, bridge loans, fix and flip hard money loans, ...
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Express Hard Money
Jersey City, NJ
Express Hard Money is private money lender headquartered in Jersey City, NJ. They provide funding in New York, New Jersey, and Connecticut. Their lending focus is mainly on fix and flip hard money loans. ...
York Funding is hard money lender based in Long Island, NY. They provide funding throughout South Florida. They provide ground-up construction loans, hard money refinancing, hard money loans for commercial properties, and short term fix and ...
Based in Salem, MA, Green Knight Funding is a hard money lender offering funding throughout Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, Maine, and Florida. They offer lending solutions for a variety of situations and needs, including fix ...
Alpine Mortgage Services is a hard money lender based in Rochelle Park, NJ offering loans in Connecticut, New York, and New Jersey. They provide loans for a variety of needs and situations, including commercial hard money loans, ground ...
Based in Las Vegas, NV, Babylon Lending Service is an asset-based lender offering funding throughout Connecticut, New York, New Hampshire, and Massachusetts. They provide loans for a variety of situations, including fix and flip loans and bridge loans. ...
Residential Capital Partners is hard money lender based in Dallas, TX. They offer funding in North Carolina, South Carolina, New Jersey, New York, Connecticut, Pennsylvania, and Texas. They offer lending solutions for many different needs and ...
Universal Capital is an asset-based lender headquartered in Andover, MA offering funding in Massachusetts, New Hampshire, Maine, Rhode Island, Connecticut, and Florida. They provide fix-and-flip hard money loans, private commercial loans, hard money bridge loans, and ground-up ...
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1st Choice Lending
Scottsdale, AZ 85260
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Headquartered in New York, NY, Sky Equity is an asset-based lender providing funding in New York, New Jersey, Connecticut, Pennsylvania, Washington DC, Virginia, and Florida. They offer bridge loans, fix-and-flip loans, and loans for investments properties. ...
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The Grossman Companies is a Quincy, MA based private lender offering loans throughout Massachusetts, Connecticut, Rhode Island, New Hampshire, and New York. They offer fix-and-flip hard money loans, short term bridge loans, hard money loans for commercial properties, ...
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