About 3e Capital
3e Capital is private lender headquartered in Pittsburgh, PA. They offer loans in Pittsburgh. Their lending focus is primarily on commercial loans. They make loans on the following types of properties: multi family, apartments, office units, and retail spaces.
Loan Types Offered: Commercial Hard Money Loans
Property Types Covered: Multi Family, Apartment, Office, Retail
Areas Served: Pittsburgh
Lending Guidelines for 3e Capital
Below are the general loan guidelines published on the 3e Capital website. Please confirm all terms and rates directly with the lender.
Commercial Hard Money LoansLoan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A
The following loans are for education purposes only. They do not represent actual loans executed by 3e Capital.
Loan Example 1
Alexander is a business owner in Pittsburgh, PA. He wants to acquire a new office building for his business but he is not able to secure a standard loan from his bank because of his low FICO score. He turns to 3e Capital for a commercial private money loan so he can fund the transaction. The property costs $330,000. Alexander will need to put 30% down, or $99,000, since the lender will loan only 70% of the purchase (the loan to value or "LTV"). This means the principle amount on the note will be $231,000. The loan also specifies a 6 month length, a 12% rate of interest, interest only payments paid monthly with a final payment at the end of the note (with no pre-payment penalty), and a 1 percent origination fee. By the parameters of the loan, Alexander will be required to pay an origination fee of $2,310 at the close (1% x $231,000 principle) and will then begin making payments of $2,310 monthly ($231,000 principle x 12% interest / 12 months). he will also make a final payment of the $231,000 principle upon expiration of the loan, or sooner if he chooses.
Loan Example 2
3e Capital issues a hard money loan to Todd for a remodeling project in Pittsburgh, PA. The loan includes the following:
a) A $250,000 purchase price, b) a 55% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 5% origination fee.
Based on a $375,000 sales price at the end of the 12 month term, the numbers for the deal would look like this:
$375,000 sales price
- $137,500 principle on note (55% LTV)
- $112,500 cash paid at closing (45% on 55% LTV)
- $6,875 origination points (5% of the $137,500 principle amount)
- $13,750 total interest paid (12 months x 10% interest)
= $104,375 gross profit (doesn't include taxes or rehab costs)
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