Green Lake Fund

About Green Lake Fund

Headquartered in South Pasadena, CA, Green Lake Fund is a private money lender offering loans across the US. Their focus is primarily on private commercial loans. They will make loans on the following types of properties: multi family residences, apartment buildings, office buildings, retail spaces, hotels, storage buildings, senior housing communities, mixed use, warehouses, industrial buildings, and medical facilities.

Loan Types Offered: Commercial Hard Money Loans

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

Areas Served: National

Lending Guidelines for Green Lake Fund

Below are the general loan guidelines published on the Green Lake Fund 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 Green Lake Fund.

Loan Example 1

So he can buy a new office space for his growing business, Mitchell turns to Green Lake Fund to fund his acquisition with a commercial hard money loan because he cannot secure a conventional mortgage loan from a bank. The new building costs $150,000. Based on a 55% loan to value (LTV) set by the lender, the loan principle amount will be $82,500. The remaining $67,500 will be be funded by the borrower. The lender additionally stipulates the following terms of the deal: 1) a 13% rate of interest, 2) a 12 month length with interest only payments to be made each month, 3) an origination fee of 1 points paid by the borrower when the deal closes, and 4) no penalty for pre-payment. By the rules of this loan, Mitchell will be required to pay an origination fee of $825 at closing (1% x $82,500 principle) and will then make payments of $894 monthly ($82,500 principle x 13% interest / 12 months). Finally, he will make a balloon payment of the $82,500 principle upon expiration of the note, or sooner if he chooses.

Loan Example 2

Tony takes out a loan from Green Lake Fund so he can renovate a house to resell in Durham, NC. The loan has the following terms:

$390,000 purchase price
55% loan to value (LTV)
12 month term
8% rate of interest
1% origination fee

If Tony accomplishes his goal of a $468,000 sales price, the outcome of the project would be the following:

$468,000 sales price
- $214,500 note principle (55% LTV)
- $175,500 down payment (45% on 55% LTV)
- $2,145 origination fee (1% of the $214,500 principle amount)
- $17,160 interest payments (12 months x 8% interest)
-----------------------
= $58,695 total profit (does not include taxes or rehab costs)

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