About AmeriStar Financing
AmeriStar Financing is an Aliso Viejo, CA based private lender. They provide loans throughout Southern California. Their lending focus is primarily on short term fix and flip loans. They primarily offer loans for single family homes and multi family residences.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Southern California
Lending Guidelines for AmeriStar Financing
Below are the general loan guidelines published on the AmeriStar Financing website. Please confirm all terms and rates directly with the lender.
Fix and Flip 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 AmeriStar Financing.
Loan Example 1
Shauna takes a hard money loan from AmeriStar Financing in order to rehab a townhouse to resale in Acton, CA. The sales price of the house is $150,000. The borrower will be required to bring 45% of the purchase price in cash to closing based on a 55% loan-to-value stipulated by the lender. This makes the principle note from AmeriStar Financing $82,500. The loan also includes these features: 1) a 18 month length, 2) a 13% interest-only note, and 3) a one percent origination fee.
In accordance with the parameters of the deal, Shauna will have to contribute a $825 origination fee in addition to 45% of the purchase price, or $67,500, based on the 55% LTV. The monthly interest-only payments will then total $894 to the lender. If Shauna accomplishes her goal of a $225,000 sales price when the loan expires, she would earn a gross profit of $58,088 after repaying the principle amount and deducting the money she brought to closing, the origination fee, and the total monthly interest payments.
Loan Example 2
Paige is a an investor in Acton, CA. She locates an older townhouse for a rehab project and takes a hard money loan from AmeriStar Financing with the following terms:
$190,000 purchase price
80% loan-to-value (LTV)
18 month term
14% interest rate
4% origination fee
Assuming a $275,500 sales price at the end of the 18 month term, the outcome for this deal would look like this:
$275,500 sales price
- $152,000 principle on note (80% LTV)
- $38,000 down payment (20% on 80% LTV)
- $6,080 origination points (4% of the $152,000 principle amount)
- $31,920 interest payments (18 months x 14% interest)
= $47,500 gross profit (does not include taxes or renovation costs)
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