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There are 47 lenders operating in Columbia, MO. The mean note amount in the city is $292,857. The mean interest rate for private loans in Columbia is 10.9%. The average length for loans is 18 months. The average loan includes a 3.5 percent origination cost. Lenders in Columbia average a 70% loan to value (LTV) on their deals.
Robyn closes on a $170,000 rehab project in Columbia, MO, using a hard money loan from Downtown Funding Company . The terms of the deal include a 70% loan-to-value (LTV), so she must contribute 30% of the price as cash to closing, making the principle loan amount $119,000. The terms of the loan dictate a 9% note for 18 months. They also stipulate a 4 point origination fee, that will also need to be paid upon closing.
Robyn must bring a total of $32,400 upon closing to pay the $51,000 down payment plus the $4,760 origination fee. After the loan is executed and Robyn takes over the property, she will have to begin making monthly payments of $893 to Downtown Funding Company ($119,000 principle x 9% / 12 months). At the expiration of the loan, she sells the rehabed house for $229,500. After deducting the $16,065 in interest payments ($893 multiplied times 18 months), the $4,760 origination fee, the $119,000 principle amount on the loan, and the $51,000 she contributed to closing, she will make a gross profit of $38,675 ($229,500 sales price minus $190,825 in total costs). This amount would then be reduced by any renovation costs paid out of pocket.
Minerva finds a duplex in Columbia, MO to renovate and re-sell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Boom Funding Company with the following parameters:
$310,000 sales price
65% loan to value (LTV)
18 month term
12% interest rate
1% origination fee
Minerva plans to sell the property when the note expires for $372,000. If she succeeds, the final numbers would be the following:
$372,000 sales price
- $201,500 loan principle (65% LTV)
- $108,500 cash paid at closing (35% on 65% LTV)
- $2,015 origination fee (1% of the $201,500 principle)
- $36,270 interest payments (18 months x 12% interest)
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= $23,715 gross profit (does not include taxes or renovation costs)
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Scottsdale, AZ 85260
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Based in Greenwood Village, CO, Merchants Mortgage & Trust Corporation is a private lender providing loans in 9 states throughout the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial ...
Silver Hill Funding is private lender based in Coral Gables, FL. They provide funding in 39 states throughout the United States. Their lending focus is primarily on commercial loans. They provide rates ranging between 6% ...
Based in Johnson City, TN, Riverdale Funding is a hard money lender offering loans in 37 states across the country. They provide lending solutions for a variety of scenarios, including loans for investments properties, commercial hard money loans, fix ...
US Best Capital Partners LLC is a private lender headquartered in Oakdale, PA offering funding in 41 states across the country. Their focus is primarily on hard money loans for commercial properties. Their lending parameters are versatile, including ...
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 ...
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 ...
Headquartered in South Windsor, CT, RCN Capital is a hard money lender providing funding in 47 states across the country. They provide loans for many different scenarios, including cash out loans, fix-and-flip hard money loans, commercial hard money 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 ...
Lima One Capital is a hard money lender based in Greenville, SC providing loans in 40 states across the US. They offer loans for many different scenarios, including fix-and-flip hard money loans, construction loans, refinancing, and investment property ...
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. ...
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Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including ...
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 ...
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 ...
Render Capital Group is a Hobart, IN based hard money lender. They offer loans in 15 states across the country. They offer loans for a variety of scenarios, including commercial hard money loans, hard money bridge loans, ...
Asset Avenue is private money lender based in Los Angeles, CA. They provide loans in 44 states across the United States. They provide loans for a variety of needs and situations, including short term loans, investment property ...
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and fix-and-flip ...
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 ...
4MyCash is hard money lender based in Clayton, MO. They offer loans throughout Missouri. They offer loans for a variety of scenarios, including fix-and-flip hard money loans and commercial hard money loans. They issue rates ...
Investor Rehab Funding is hard money lender headquartered in Atlanta, GA. They provide loans in 40 states throughout the US. They offer fix-and-flip hard money loans, private refinancing, investment property loans, and new construction loans. ...
Leverage Lending Group is an asset-based lender headquartered in Charlotte, NC providing funding in 10 states throughout the US. They provide fix-and-flip loans and rental property loans. They issue loans with a maximum LTV of 75% and ...
Hard Money Mike is an asset-based lender headquartered in Littleton, CO offering loans in Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They provide lending solutions for a variety of situations, including commercial hard money loans and 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 ...
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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 ...
Bridge Well Capital is a hard money lender in Orlando, FL offering funding in 40 states throughout the United States. They provide loans for investments properties, cash out hard money loans, and fix-and-flip hard money loans. Their ...
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ReCasa Financial Group is a Columbus, OH based private money lender providing funding in 9 states across the US. They provide lending solutions for many different needs and situations, including hard money bridge loans, private commercial loans, refinancing, ...
Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan ...
Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States. They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...
ARC Capital is a Santa Rosa, CA based private lender providing funding in 17 states throughout the country. They offer long term rental property loans, bridge loans, hard money loans for commercial properties, and short term fix and ...
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