About BD Nationwide Mortgage
Based in Encinitas, CA, BD Nationwide Mortgage is a private money lender offering funding throughout California. Their lending focus is primarily on fix-and-flip hard money loans. They issue loan amounts up to $1,500,000. They will consider varying loan requests but primarily focus on single family units and multi family residences.Visit Website
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: CA
Lending Guidelines for BD Nationwide Mortgage
Below are the general loan guidelines published on the BD Nationwide Mortgage website. Please confirm all terms and rates directly with the lender.
Fix and Flip LoansLoan Amounts: Up to $1,500,000
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 BD Nationwide Mortgage.
Loan Example 1
Aida takes a fix-and-flip loan from BD Nationwide Mortgage in order to remodel a duplex to resale in Los Angeles, CA. The sales price of the property is $390,000. The loan to value (LTV) on the deal is 50%. This means Aida will have to bring 50% of the purchase price to closing and the principle will be $195,000 on the deal. The loan is interest-only, paid monthly, and is for 6 months at 11% interest with 4 origination points paid at the closing.
In accordance with the terms of the deal, Aida will need to contribute a $7,800 origination fee in addition to 50% of the purchase price, or $195,000, since there is a 50% LTV. Once the loan is executed and Aida takes the project, she will have to begin making monthly payments of $1,788 to BD Nationwide Mortgage ($195,000 principle x 11% / 12 months). If Aida sells the rehabed house for $546,000 at the end of the 6 month term, her gross profit (not accounting for rehab costs) would be $137,475. This is computed by taking the sales price ($546,000) and subtracting the original principle ($195,000), the origination cost ($7,800), the cash she brought to closing ($195,000), and the total interest expenses ($10,725).
Loan Example 2
Ada locates a property in Los Angeles, CA to remodel and sell. Since she does not have enough cash to buy the property outright, she takes a fix and flip loan from BD Nationwide Mortgage with the following parameters:
a) A $230,000 purchase price, b) a 50% loan-to-value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 4% origination fee.
Ada intends to list the project when the note expires for $310,500. If she succeeds, the final numbers would be as follows:
$310,500 sales price
- $115,000 principle (50% LTV)
- $115,000 down payment (50% on 50% LTV)
- $4,600 origination fee (4% of the $115,000 principle amount)
- $24,150 total interest paid (18 months x 14% interest)
= $51,750 total profit (doesn't include taxes or renovation costs)
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