Investment Property Loans in ,
A total of 48 search results for investment property hard money lenders were found in Clinton, MA. The mean loan amount in this city is $312,500. Interest rates on hard money loans issued to Clinton investors average 11.1%. The typical term offered for notes is 14 months. The average origination fee for the loans is 3.2 percent. Lenders typically offer a 73% loan-to-value on deals in Clinton.
Loan Example 1
Jose decides to purchase a rental house in Clinton, MA for $330,000 with a hard money loan from Sunrise Finance Group . Jose and Sunrise Finance Group agree to a 75% loan to value (LTV) so they will contribute 75% of the purchase price and Jose will have to pay the other 25%. The other guidelines of the loan are the following: 1) a 5 year, interest-only note, 2) a 14% interest rate, and 3) a 3 point origination fee charged at closing. Jose will have to fund $82,500 of his own cash at the close of the deal (due to the 75% LTV) in addition to the $7,425 in origination points (3% x the $247,500 loan principle), and he will also start paying $2,888 per month when the loan is closed.
Loan Example 2
Douglas is a real estate investor in Clinton, MA. He finds a rental house he wants to buy for $170,000 but he does not have enough funds so he takes out a private loan from Blue Mountain Funding Group . Douglas and Blue Mountain Funding Group contract to a 60% loan-to-value (LTV) so they will contribute 60% of the sales price and Douglas will have to fund the remaining 40%. In accordance with the terms of the loan, the note is for 3 years at a 8% rate of interest. A 2 point origination fee will need to be paid when the deal closes and Douglas will then make interest only payments with a balloon payment of the loan principle paid when the note expires. Douglas will need to pay $68,000 of his own money at the close of the loan (based on the 60% LTV) along with the $2,040 in origination fees (2% x the $102,000 loan principle), and he will also begin paying $680 monthly once the deal is executed.