Direct Money Lenders

About Direct Money Lenders

Direct Money Lenders is an Indianapolis, IN based hard money lender providing funding across the country. They provide loans for many different situations, including cash out hard money loans, hard money bridge loans, commercial loans, and fix and flip hard money loans. Their lending guidelines are flexible, including loan amounts ranging from $100,000 to $20,000,000 with a maximum LTV of 80%, rates ranging between 6.99% and 11.99%, and terms between 3 years and 10 years. Their loan parameters do not require a minimum credit score. They provide loans on all the following types of properties: single family, multi family residences, offices, retail spaces, industrial facilities, mixed use, and apartments.

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

Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial, Mixed Use, Apartment

Areas Served: National

Licenses: NMLS# 144773

Lending Guidelines for Direct Money Lenders

Below are the general loan guidelines published on the Direct Money Lenders 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 Direct Money Lenders.

Loan Example 1

Ursula closes on a $330,000 renovation project in Scottsdale, AZ, using a fix and flip loan from Direct Money Lenders. The lender agrees to make a loan with a 65% loan-to-value (LTV) so they are willing to extend $214,500 on the property. The loan is interest only, paid monthly, and is for 18 months at 12% interest with 3 origination points to be paid at the closing.

Ursula will need to bring $115,500 at the closing (35% on the 65% LTV), plus she will have to pay the $6,435 origination fee. Direct Money Lenders will collect $2,145 in monthly interest payments from the Ursula. This is computed by taking the full loan amount of $214,500, multiplying that by the 12% interest rate, and then dividing that number by 12. If Ursula sells the property for $412,500 after 18 months, she would then earn a total profit of $37,455 after subtracting the principle of $214,500, the money paid at the close of $115,500, the origination points of $6,435, and the aggregate interest payments of $38,610. This amount doesn't account for rehab costs.

Loan Example 2

Corey takes a hard money loan from Direct Money Lenders in order to remodel a townhouse to re-sell in Atlanta, GA. The deal has the following terms:

a) A $300,000 purchase price, b) a 70% loan to value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 4% origination fee.

Once the renovation project is finished, if Corey sells the project for $420,000, the numbers would be as follows:

$420,000 sales price
- $210,000 note principle (70% LTV)
- $90,000 cash paid at closing (30% on 70% LTV)
- $8,400 origination fee (4% of the $210,000 principle)
- $11,550 interest payments (6 months x 11% interest)
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= $100,050 gross profit (does not include taxes or rehab costs)

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