About Expert Mortgage Group
Based in Albany, OR, Expert Mortgage Group is a private lender offering funding in Albany and Portland. Their focus is primarily on fix and flip hard money loans. Their loan guidelines are versatile, including loans with a maximum LTV of 65%. They will consider varying loan requests but primarily focus on single family units and multi family.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Albany, Portland
Licenses: OR ML-5066, NMLS 645511
Lending Guidelines for Expert Mortgage Group
Below are the general loan guidelines published on the Expert Mortgage Group website. Please confirm all terms and rates directly with the lender.
Fix and Flip LoansLoan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
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 Expert Mortgage Group.
Loan Example 1
Expert Mortgage Group makes a fix and flip loan to Meredith for a rehab project in Albany, OR, on a property that costs $190,000. The borrower will need to contribute 15% of the sales price in cash to the closing based on a 85% loan to value set by the lending company. This makes the principle amount from Expert Mortgage Group $161,500. The interest rate on the note is 10% for a length of 18 months and the lender requires a two point origination fee at closing. The interest is to be paid on a monthly basis and the principle amount will be paid back after the sale of the property.
In addition to paying the $3,230 origination fee, Meredith will also need to fund $28,500 of the purchase with her own funds, or 15% of the sales price. Expert Mortgage Group will collect $1,346 in monthly interest from the Meredith . This is computed by taking the total note amount of $161,500, multiplying by the 10% rate of interest, and then dividing that amount by 12. If Meredith achieves her goal of a $275,500 sales price when the loan term expires, she would pocket a total profit of $58,045 after re-paying the principle amount and subtracting the cash she brought to closing, the origination fee, and the total monthly interest payments.
Loan Example 2
Expert Mortgage Group makes a fix and flip loan to Derek for a rehab project in Albany, OR. The deal dictates the following:
$320,000 purchase price
70% loan-to-value (LTV)
12 month term
13% rate of interest
4% origination fee
Derek intends to sell the house when the note expires for $480,000. If he accomplishes his goal, the final numbers will be the following:
$480,000 sales price
- $224,000 loan principle (70% LTV)
- $96,000 cash paid at closing (30% on 70% LTV)
- $8,960 origination points (4% of the $224,000 principle)
- $29,120 total interest paid (12 months x 13% interest)
= $121,920 total profit (does not include taxes or renovation costs)
No Reviews Yet
Expert Mortgage Group currently has no reviews. To add a review now, click the link below: