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About Certified Investments
Certified Investments is an asset-based lender in Pittsburgh, PA offering funding throughout Pittsburgh. Their focus is primarily on fix-and-flip hard money loans. Their lending parameters are flexible, including loans with a maximum LTV of 70%, rates ranging from 15%, and terms up to 1 year. They require borrowers to have a minimum FICO score of 675 to receive a loan. 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: Pittsburgh
Lending Guidelines for Certified Investments
Below are the general loan guidelines published on the Certified Investments website. Please confirm all terms and rates directly with the lender.
Fix and Flip LoansLoan Amounts: N/A
Available Rates: 15%
Typical Terms: 12 months
Points Charged: 10%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 675
Time to Close: N/A
The following loans are for education purposes only. They do not represent actual loans executed by Certified Investments.
Loan Example 1
Certified Investments makes a private money loan to Sean for a remodeling project in Pittsburgh, PA, on a house that is listed for $360,000. The loan-to-value (LTV) on the note is 85%. This means Sean will need to bring 15% of the sales price to the closing and the principle amount will be $306,000 on the note. The loan also consists of the following features: 1) a 18 month length, 2) a 14% interest-only note, and 3) a four point origination charge.
The borrower will have to bring a total of $32,400 upon closing to cover the $54,000 down payment plus the $12,240 origination fee. he will then pay $3,570 monthly to the lender. At the end of the note, he sells the renovated house for $522,000. After subtracting the $64,260 in interest expenses ($3,570 multiplied times 18 months), the $12,240 origination fee, the $306,000 principle amount on the note, and the $54,000 he contributed to the closing, he will earn a total profit of $85,500 ($522,000 price minus $436,500 in costs). This amount would be reduced by any building costs paid out of pocket.
Loan Example 2
Lesley takes out a fix and flip loan from Certified Investments in order to rehab a townhouse to flip in Pittsburgh, PA. The deal has the following terms:
a) A $370,000 purchase price, b) a 85% loan to value (LTV), c) a 6 month term, d) a 13% interest rate, and e) a 3% origination fee.
Assuming a $555,000 sales price after the 6 month term, the outcome for this deal would look like this:
$555,000 sales price
- $314,500 note principle (85% LTV)
- $55,500 cash paid at closing (15% on 85% LTV)
- $9,435 origination fee (3% of the $314,500 principle)
- $20,443 interest payments (6 months x 13% interest)
= $155,123 gross profit (doesn't include taxes or rehab costs)
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