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Yakima, WA has 50 private money lenders offering loans within the city. The mean loan amount in this city is $296,000. The mean rate for private loans in Yakima is 8.8%. The median loan made in this city has a term of 23 months. A typical hard money loan offered in this city carries a 3.0 point origination cost. 73% is the mean loan-to-value offered for for loans in Yakima.
Franklin closes on a $160,000 renovation project in the West Valley subdivision of Yakima, WA, using a hard money loan from Smith Finance Group . The terms of the loan include a 65% loan-to-value (LTV), so he must contribute 35% of the price as cash to closing, which makes the principle note amount $104,000. The rate on the note is 9% for a term of 12 months and the company requires a five point origination fee at closing. The interest payments are to be paid monthly and the principle will be paid back after the property sells.
In accordance with the terms of the loan, Franklin will have to contribute a $5,200 origination fee plus 35% of the sales price, or $56,000, based on the 65% LTV. he will then pay $780 monthly to Smith Finance Group . If Franklin meets his goal of a $232,000 sales price at the end of the loan term, he would make a total profit of $57,440 after repaying the principle amount and subtracting the money he contributed at closing, the origination points, and the monthly interest payments.
Robyn is a real estate investor in the Summitview neighborhood of Yakima, WA. She buys a run-down property for a renovation project and takes out a hard money loan from Credence Finance Corporation with the following features:
$280,000 purchase price
70% loan-to-value (LTV)
18 month term
9% interest rate
1% origination fee
Assuming a $406,000 sales price at the end of the 18 month term, the outcome for the project would look like this:
$406,000 sales price
- $196,000 loan principle (70% LTV)
- $84,000 down payment (30% on 70% LTV)
- $1,960 origination fee (1% of the $196,000 principle amount)
- $26,460 total interest paid (18 months x 9% interest)
-----------------------
= $97,580 total profit (doesn't include taxes or renovation costs)
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Portland, OR
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Visio Lending is a hard money lender based in Austin, TX providing loans in 39 states throughout the United States. They provide short term bridge loans, commercial loans, and fix-and-flip hard money loans. They provide rates ...
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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 ...
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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 ...
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 ...
Northwest Money Source is an asset-based lender in Portland, OR offering loans throughout Yakima, Castle Rock, and Longview. Their focus is primarily on hard money loans for commercial properties. They make loans on ...
Normandy is a Rochester, NY based private money lender. They provide funding in 39 states throughout the country. They provide ground-up construction loans, long term rental property loans, cash out hard money loans, fix and flip hard money ...
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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 ...
Inland Capital is a Spokane, WA based hard money lender. They provide funding throughout Washington, Idaho, and Oregon. They offer short term fix and flip loans, hard money refinancing, private commercial loans, hard money construction loans, ...
Veristone Mortgage is private lender headquartered in Meridian, ID. They offer loans throughout Oregon, Washington, and Idaho. They provide loans for a variety of scenarios, including short term fix and flip loans, construction loans, hard money ...
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 ...
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 ...
Headquartered in Portland, OR, Iron Bridge Lending is a private money lender offering funding in 10 states across the country. Their focus is primarily on fix-and-flip hard money loans. They issue terms between 6 months and 1 ...
Westar Funding is private lender headquartered in Mukilteo, WA. They offer loans in Washington, Oregon, and Idaho. They provide commercial loans, short term loans, hard money construction loans, and fix-and-flip loans. They offer ...
Builders Capital is hard money lender headquartered in Seattle, WA. They offer loans throughout Washington and Oregon. They offer ground up construction loans, fix and flip loans, and short term bridge loans. They offer ...
Headquartered in Salt Lake City, UT, Taylor Derrick Capital is a hard money lender offering funding in 10 states across the country. They provide lending solutions for a variety of scenarios, including commercial loans, loans for rental properties, hard ...
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 ...
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 ...
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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 ...
Based in Arcadia, CA, Level 4 Funding is a private lender providing loans in 8 states across the country. They offer cash out hard money loans, short term bridge loans, construction loans, rental property loans, private commercial loans, ...
Lead Funding is a private money lender in Castle Rock, CO offering funding in Arizona, Colorado, Texas, and Washington. They offer lending solutions for many different scenarios, including private refinancing, fix-and-flip hard money loans, and hard money ...
GROUNDFLOOR is hard money lender based in Atlanta, GA. They provide funding in 9 states throughout the US. Their focus is mainly on fix-and-flip loans. Their loan parameters are flexible, including rates starting at 5.5% ...
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% ...
Royal Development is an Irvine, CA based private lender. They provide funding in California, Texas, and Washington. They offer short term loans, new construction loans, commercial hard money loans, rental property loans, private refinancing, and fix-and-flip ...
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 ...
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