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There are 26 hard money lenders offering loans in Burlington, VT. The average note made is around $292,500. Interest rates on loans issued to Burlington investors average 10.2%. The typical loan issued in the city has a length of 19 months. The mean note includes a 2.3 percent origination fee. Lenders in Burlington average a 68% loan to value on their deals.
Jami finds a townhome in Burlington, VT to flip and re-sell. Since she does not have enough cash to acquire the $270,000 property outright, she takes out a hard money loan from Blue Door Funding . Since the lender sets a 55% loan-to-value, Jami will be required to put 45% down and the amount of the loan will be $148,500. The loan is interest only, with monthly payments, and is for 18 months at 14% interest with 5 points to be paid at closing.
Accordingly, the borrower will be required to contribute a $121,500 down payment plus pay a $7,425 origination fee. The monthly interest only payments will then total $1,733 to Blue Door Funding . If she sells the rehabed house for $324,000 at the end of the 18 month term, her gross profit (not including rehab expenses) would be $15,390. This is calculated by taking the sales price ($324,000) and subtracting the original note amount ($148,500), the origination fee ($7,425), the cash she contributed to closing ($121,500), and the total interest payments ($31,185).
Lily locates a duplex in Burlington, VT to renovate and re-sell. Because she does not have enough cash to buy the property outright, she takes a hard money loan from Riverside Investment Corporation with the following parameters:
a) A $390,000 purchase price, b) a 75% loan to value (LTV), c) a 12 month term, d) a 9% interest rate, and e) a 1% origination fee.
Assuming a $507,000 sales price after the 12 month term, the outcome for this project would look like this:
$507,000 sales price
- $292,500 loan principle (75% LTV)
- $97,500 down payment (25% on 75% LTV)
- $2,925 origination points (1% of the $292,500 principle amount)
- $26,325 total interest paid (12 months x 9% interest)
-----------------------
= $87,750 total profit (doesn't include taxes or rehab costs)
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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. ...
Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial loans. They issue loan amounts starting at $2,000,000. They do not ...
Capstone Financial is a Scottsdale, AZ based hard money lender who provides loans all across the US. They provide lending solutions for a variety of needs and situations, including cash out loans, fix and flip hard money loans, short ...
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. ...
Gokapital Mortgage is a Miami, FL based private lender who provides funding all throughout the US. They provide lending solutions for a variety of situations, including loans for rental properties, cash out hard money loans, fix-and-flip loans, hard money ...
Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States. They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...
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 ...
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using ...
Based in North Bergen, NJ, Northeast Lending Services is a private lender offering loans in 9 states throughout the US. They provide lending solutions for many different scenarios, including commercial loans, buy and hold loans, and short term ...
ICG10 Capital is private lender headquartered in Aventura, FL. They offer loans in 44 states throughout the United States. They offer loans for many different scenarios, including short term loans, buy and hold loans, short term fix ...
Rental Home Financing is a private money lender headquartered in Indianapolis, IN offering funding in 26 states across the country. They provide lending solutions for a variety of scenarios, including refinancing, fix-and-flip loans, and loans for investments properties. ...
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 ...
Foxpoint Lending is an asset-based lender in Providence, RI providing loans throughout New York, Rhode Island, Connecticut, Massachusetts, New Hampshire, Vermont, and Maine. They offer private commercial loans, investment property loans, and fix-and-flip loans. They issue ...
Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
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 ...
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. ...
Allied Commercial Funding is private lender headquartered in Agoura Hills, CA. They provide funding in 43 states throughout the US. They provide lending solutions for a variety of situations and needs, including hard money loans for commercial ...
Father & Son Private Money Lending is a hard money lender providing loans in Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut. They provide fix-and-flip hard money loans, private refinancing, ground up construction loans, commercial loans, ...
Private Capital USA is a Ronkonkoma, NY based private money lender who offers funding in 10 states across the country. They provide hard money loans for commercial properties, hard money bridge loans, and fix-and-flip loans. Their lending ...
Next-Financing is based in Scottsdale, Arizona and has a satellite office in Silicon Valley, California. They offer a wide array of financing options for businesses, including fix and flip loans and loans for rental properties. They lend on ...
Wallace Capital is private lender headquartered in Boston, MA. They offer funding in Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, and Maine. They provide lending solutions for a variety of situations and needs, including commercial loans, ...
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 ...
Layla Capital is a hard money lender headquartered in New York, NY providing loans in 10 states across the country. They provide lending solutions for many different scenarios, including short term fix and flip loans, construction loans, hard money ...
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