Diamonds and Marbles LLC

About Diamonds and Marbles LLC

Diamonds and Marbles LLC is a Cincinnati, OH based hard money lender providing funding across the US. They offer hard money refinancing, hard money bridge loans, and commercial loans. They issue loans with a maximum LTV of 70%. Their lending parameters do not require a minimum FICO rating. They make loans on all of the following property types: multi-family, apartment buildings, offices, retail units, hotels/motels, storage buildings, senior housing communities, mixed use, warehouse spaces, industrial buildings, medical offices, undeveloped land, and churches.

Loan Types Offered: Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land, Church

Areas Served: National

Lending Guidelines for Diamonds and Marbles LLC

Below are the general loan guidelines published on the Diamonds and Marbles LLC website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Diamonds and Marbles LLC.

Loan Example 1

Ricky is an entrepreneur in Vancouver, WA. He decides to acquire a new office building for his business but he is not able to obtain a commercial mortgage from his bank due to his below average FICO score. He turns to Diamonds and Marbles LLC for a commercial hard money loan to fund the transaction. The lender contracts to a 55% loan-to-value (LTV) on the deal and the property is listed for $360,000, so they will contribute $198,000 and Ricky will bring the remaining $162,000. Additionally, the lender will charge a 1 percent origination fee in combination with the 10%, 12 month term on the note. They will not enforce a pre-payment penalty in case Ricky pays off the loan early. By the conditions of the loan, Ricky will need to pay origination points of $1,980 when the loan is executed. He will also start making payments of $1,650 each month throughout the duration of the loan and will pay off the principle at the end of the 12 month loan term. Should he decide to pay off the loan early, he may do so without additional expense since there isn't a pre-payment penalty attached to the note.

Loan Example 2

Sheena locates a property in Durham, NC to remodel and re-sell. Since she does not have enough cash to buy the property outright, she takes a hard money bridge loan from Diamonds and Marbles LLC with the following parameters:

a) A $350,000 sales price, b) a 75% loan-to-value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 5% origination fee.

Sheena plans to sell the project when the note expires for $455,000. If she accomplishes her goal, the final numbers will be the following:

$455,000 sales price
- $262,500 note principle (75% LTV)
- $87,500 down payment (25% on 75% LTV)
- $13,125 origination points (5% of the $262,500 principle amount)
- $10,500 interest payments (6 months x 8% interest)
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= $81,375 gross profit (doesn't include taxes or renovation costs)

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