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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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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 ...
Temple View Capital is private lender headquartered in Bethesda, MD. They provide loans in 20 states throughout the US. They provide short term fix and flip loans, cash out loans, private commercial loans, loans for rental properties, ...
Sound Equity Solutions, LLC is a Bellevue, WA based private money lender offering funding in Washington, Oregon, and California. Their lending focus is mainly on fix and flip hard money loans. They primarily ...
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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. ...
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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. ...
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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 ...
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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, ...
Legacy Group Capital is private money lender headquartered in Bellevue, WA. They offer funding in Washington, Idaho, Arizona, and Oregon. They provide loans for a variety of scenarios, including commercial hard money loans, short term fix ...
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Zinc Financial is a Fresno, CA based hard money lender. They provide loans in 10 states throughout the country. They offer rental property loans and fix-and-flip loans. They offer rates starting at 8.99% , loan ...
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 ...
Payette Financial Services is a Boise, ID based hard money lender offering loans in 10 states throughout the United States. They provide loans for a variety of needs and situations, including short term fix and flip loans, cash out ...
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The Private Money Store Inc is a Spokane Valley, WA based private money lender who provides loans throughout Washington. They provide loans for many different needs and situations, including private commercial loans, hard money bridge loans, and fix-and-flip ...
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 ...
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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 ...
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 ...
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 ...
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 ...
Rain City Capital offers financing solutions to real estate investors in the state of Washington. They specialize in short-term loans for residential real estate and can close loans very quickly. Their rates start at just 12% with two ...
CalCap Financial is a hard money lender headquartered in Pasadena, CA providing loans throughout California, Arizona, Washington, and Colorado. They offer loans for investments properties, fix and flip hard money loans, cash out hard money loans, and ...
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Empire Financial Services is a Tukwilla, WA based hard money lender who offers funding in 16 states across the country. They offer lending solutions for a variety of situations, including hard money loans for commercial properties, fix and flip ...
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Veristone Capital is private lender headquartered in Kirkland, WA. They offer loans in Oregon and Washington. They offer hard money bridge loans, fix and flip loans, new construction loans, commercial loans, and cash out hard money ...
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