Investment Property Loans in ,
There are 48 records for investment property hard money lenders operating in Jamestown, NC. The average loan amount is $285,000. Interest rates on loans made to Jamestown borrowers average about 10.3%. The average loan made in this city has a term of 15 months. The mean origination fee charged for the loans is 3.0%. 77% is the typical loan-to-value for for loans in Jamestown.
Loan Example 1
Laverne decides to acquire an investment property in Jamestown, NC for $270,000 using a private money loan from South Star Investments . The lender decides to loan Laverne 70% of the value of the property (LTV), so she will be required to pay the remaining 30%. The other guidelines of the loan are the following: 1) a 3 year, interest-only note, 2) a 10% rate of interest, and 3) a 2% origination fee charged when the deal closes. Laverne will have to pay $81,000 of her own cash upon closing (based on the 70% LTV) along with the $3,780 origination fee (2% x the $189,000 loan principle), plus she will also begin making payments of $1,575 monthly when the loan is closed.
Loan Example 2
Dwayne decides to acquire an investment property in Jamestown, NC which costs $260,000. Since he is short on funds for the transaction and cannot get a loan from a bank, he gets a private money loan from Oak Hill Investment Group . Based on a 70% loan-to-value (LTV) contracted to by the borrower and lender, Dwayne will need to pay the other 30% with his own cash. In addition, they agree to a 1 year, interest only note at a 14% rate of interest, with a 1 point origination fee paid when the deal closes. Dwayne will have to fund $78,000 of his own cash at closing (due to the 70% LTV) along with the $1,820 in origination fees (1% x the $182,000 loan principle), and he will then start paying $2,123 per month when the deal is closed.