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San Tan Valley, AZ has 50 private money lenders serving the city. In this city, the mean amount for loans is $512,500. The mean rate for private loans in San Tan Valley is 10.5%. The average length for notes is 22 months. The average note includes a 2.4 point origination charge. Lenders offer on average a 77% loan-to-value on hard money loans in San Tan Valley.
Keisha finds a property in San Tan Valley, AZ to remodel and re-sell. Since she does not have enough cash on-hand to buy the $400,000 project outright, she decides to take out a hard money loan from Evergreen Lending Corporation. The lender agrees to issue a loan with a 85% loan-to-value (LTV) so they will extend $340,000 on the house. The parameters of the loan dictate a 10% note for 12 months. They also stipulate a 5 point origination fee, that will also need to be paid when the property closes.
The borrower must fund a total of $32,400 upon closing to cover the $60,000 down payment in addition to the $17,000 origination fee. After the deal closes, she will need to pay Evergreen Lending Corporation $2,833 in monthly interest fees, or 10% multiplied by $340,000 divided by 12 months in the year. Assuming Keisha sells the rehabed house for $580,000 at the end of the 12 month term, her total profit (not including rehab costs) would be $129,000. This is calculated by taking the sales price ($580,000) and subtracting the original principle ($340,000), the origination fee ($17,000), the cash she brought to closing ($60,000), and the total interest expenses ($34,000).
Blue Sky Funding Corporation makes a private money loan to Reba for a renovation project in San Tan Valley, AZ. The deal dictates the following:
a) A $350,000 sales price, b) a 65% loan-to-value (LTV), c) a 6 month term, d) a 12% interest rate, and e) a 2% origination fee.
Reba plans to sell the property at the end of the term for $455,000. If she succeeds, the final numbers will be as follows:
$455,000 sales price
- $227,500 principle on note (65% LTV)
- $122,500 down payment (35% on 65% LTV)
- $4,550 origination fee (2% of the $227,500 principle amount)
- $13,650 total interest paid (6 months x 12% interest)
-----------------------
= $86,800 total profit (doesn't include taxes or renovation costs)
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1 Linden Place
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321 N Central Expressway, Suite 360
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11024 N. 28th Drive Suite 170
Phoenix, AZ 85029
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4040 E. Camelback Road, Suite 210
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650 California Street, Suite 2700
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221 N. Kansas St, Suite 1211
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65 N. Catalina
Pasadena, CA 91106
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225 Crossroads Blvd. Suite 254
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C2 Financial Corporation is a Carmel, CA based private lender. They offer loans in 9 states throughout the US. They offer hard money loans for commercial properties, investment property loans, and fix and flip loans. Their ...
2002 Jimmy Durante Blvd, Suite 202
Del Mar, CA 92014
Investor Direct Capital is a Del Mar, CA based private money lender who offers loans throughout California, Arizona, and Nevada. They provide loans for a variety of situations, including investment property loans and fix and flip loans. ...
2525 E. Camelback Rd., Suite 1050
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Artemis Realty Capital is private money lender headquartered in Phoenix, AZ. They offer loans in Southern California. They provide loans for a variety of scenarios, including hard money loans for commercial properties, hard money refinancing, and ...
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7815 N. Palm Ave, Suite 200
Fresno, CA 93711
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1010 NE 2nd Ave
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8655 East Via De Ventura, Suite G-170
Scottsdale, AZ 85258
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10401 North Meridian
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15455 Dallas Parkway, suite 600
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3451 W. Shaw Avenue, Suite 105
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144 N Western Avenue Buidling D
Neenah, WI 54956
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445 S. Figueroa Street, Suite 3199
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670 E Encinas Ave
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10105 E. Via Linda, 103-162
Scottsdale, AZ 85258
Jacobs Funding and Investments is a hard money lender headquartered in Scottsdale, AZ providing funding throughout Arizona. They offer cash out hard money loans, private commercial loans, fix and flip hard money loans, short term loans, and investment ...
5927 Balfour Ct., Suite 208
Carlsbad, CA 92008
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