Kennedy Funding Financial

About Kennedy Funding Financial

Based in Englewood Cliffs, NJ, Kennedy Funding Financial is a hard money lender providing funding across the US. They provide loans for a variety of situations, including cash out loans and hard money loans for commercial properties. They issue loan amounts ranging from $1,000,000 to $50,000,000 with a maximum LTV of 75%, terms up to 5 years, and rates starting at 9% . They provide loans on most types of properties, including multi-family units, apartments, office units, retail units, mixed use buildings, and hotels/motels.

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

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

Areas Served: National

Lending Guidelines for Kennedy Funding Financial

Below are the general loan guidelines published on the Kennedy Funding Financial 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 Kennedy Funding Financial.

Loan Example 1

Virginia is a small business owner in Lubbock, TX. She decides to buy a new commercial building for her company but she is not able to get a commercial mortgage from her bank due to her below average FICO score. She looks to Kennedy Funding Financial for a commercial private money loan in order to close the acquisition. The building is listed for $330,000. Because there is a 70% loan-to-value (LTV) agreed to by the lender, the principle is $231,000. The additional $99,000 will be be paid by Virginia. In addition, the lender will charge a 3 point origination fee in addition to the 8%, 18 month term on the loan. They will not charge a pre-payment penalty in the event that Virginia pays off the loan before it expires. Virginia may eliminate the loan at any point if she pays back the $231,000 of principle, however, she will must make $1,540 /month interest payments ($231,000 principle x 8% interest / 12 months per year) in the interim, or until the loan expires. Since there isn't a pre-payment penalty, the only other cost she will have to pay is the $6,930 origination cost which she will contribute at the close.

Loan Example 2

Darren locates a property in Vancouver, WA to renovate and sell. Since he does not have enough cash to buy the property outright, he takes a hard money loan from Kennedy Funding Financial with the following parameters:

a) A $310,000 purchase price, b) a 60% loan to value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 1% origination fee.

If Darren achieves his goal of a $449,500 sales price, the numbers of the project will be the following:

$449,500 sales price
- $186,000 principle on note (60% LTV)
- $124,000 cash paid at closing (40% on 60% LTV)
- $1,860 origination points (1% of the $186,000 principle amount)
- $14,880 interest payments (12 months x 8% interest)
-----------------------
= $122,760 total profit (doesn't include taxes or renovation costs)

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