Investment Property Loans in ,
A total of 50 records for investment property private money lenders were found in Magnolia, TX. The average note amount in the city is $320,313. Rates on private loans issued to Magnolia borrowers average 10.2%. The average loan made in the city is for 67 months. The mean origination for loans is 2.6 points. The median loan-to-value offered for loans in Magnolia is 73%.
Loan Example 1
Ryan decides to acquire a rental property in Magnolia, TX that is listed for $390,000. Because he is short on cash for the deal and can't secure a traditional bank loan, he obtains a private money loan from Mountain Rock Investments . Since there is a 70% loan to value (LTV) agreed to by the lender and borrower, Ryan will have to pay the other 30% with his own cash. In addition, they agree to a 1 year, interest only note at a 10% interest rate, with 5 origination points paid when the deal closes. According to this deal, Ryan will have to make these payments: 1) $117,000 down payment when the deal closes (based on the 70% LTV), 2) $13,650 in origination fees (5% x the $273,000 principle), and 3) $2,275 monthly in interest payments.
Loan Example 2
Rolling Brook Lending Group issues a private loan to Jaime , a local investor in Magnolia, TX who has decided to acquire a $260,000 rental house. Jaime and Rolling Brook Lending Group contract to a 55% loan-to-value (LTV) so they will fund 55% of the list price and Jaime will have to pay the other 45%. Additionally, they stipulate a 1 year, interest-only loan at a 11% rate of interest, with a 4 point origination fee paid at closing. According to the parameters of the loan, Jaime 's payments will be $1,311 on a monthly basis. Additionally, she will be required to pay $117,000 in cash at the closing along with the $5,720 origination fee. When the loan expires, she will have to pay back the $143,000 principle in a single balloon payment.