About Cavalier Realty Corporation
Cavalier Realty Corporation is a hard money lender headquartered in Baltimore, MD providing loans throughout Baltimore. Their focus is primarily on fix and flip loans. They primarily provide funding for single family and multi family.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Baltimore
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
Loan Example 1
Arnold closes on a $220,000 renovation project in Baltimore, MD, using a fix and flip loan from Cavalier Realty Corporation. The terms of the loan include a 55% loan to value (LTV), so he must contribute 45% of the price as cash at closing, which makes the principle loan amount $121,000. The parameters of the loan also stipulate a one percent origination fee that is to be paid at the closing and a 12 month, interest only note with a 14% rate of interest.
Accordingly, the borrower will need to contribute a $99,000 down payment in addition to paying a $1,210 origination fee. The monthly interest-only payments will then be $1,412 to Cavalier Realty Corporation. If Arnold achieves his goal of a $308,000 sales price when the loan expires, he would collect a gross profit of $69,850 after re-paying the principle amount and deducting the money he contributed at closing, the origination points, and the total interest payments.
Loan Example 2
Cavalier Realty Corporation issues a hard money loan to Alan for a rehab project in Baltimore, MD. The loan includes the following:
a) A $250,000 purchase price, b) a 75% loan-to-value (LTV), c) a 18 month term, d) a 12% interest rate, and e) a 5% origination fee.
Alan intends to sell the house at the end of the term for $337,500. If he achieves this goal, the final numbers would be the following:
$337,500 sales price
- $187,500 loan principle (75% LTV)
- $62,500 down payment (25% on 75% LTV)
- $9,375 origination fee (5% of the $187,500 principle)
- $33,750 total interest paid (18 months x 12% interest)
= $44,375 gross profit (does not include taxes or rehab costs)
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