About Kruger Investment Company
Kruger Investment Company is a hard money lender offering loans throughout the Oklahoma City metro area.Visit Website
Loan Types Offered: Hard Money Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Oklahoma City
Lending Guidelines for Kruger Investment Company
Below are the general loan guidelines published on the Kruger Investment Company website. Please confirm all terms and rates directly with the lender.
Hard Money LoansLoan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
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 Kruger Investment Company.
Loan Example 1
Rachelle takes a loan from Kruger Investment Company in order to renovate a condo to resale in Oklahoma City, OK. The sales price of the property is $380,000. The borrower will need to contribute 30% of the purchase price in cash to the closing based on a 70% loan to value set by the lending company. This makes the loan principle from Kruger Investment Company $266,000. The deal also consists of these features: 1) a 6 month length, 2) a 14% interest-only note, and 3) a four point origination fee.
Accordingly, Rachelle will be required to contribute a $114,000 down payment plus pay a $10,640 origination fee. Once the deal closes, she will pay Kruger Investment Company $3,103 in monthly interest fees, or 14% multiplied times $266,000 divided by 12 months in a year. If Rachelle meets her goal of a $570,000 total sales price at the end of the loan term, she would collect a gross profit of $160,740 after re-paying the principle amount and subtracting the cash she paid at closing, the origination fee, and the monthly interest payments.
Loan Example 2
Jordan is a real estate investor in Oklahoma City, OK. He locates an older property for a renovation project and obtains a private money loan from Kruger Investment Company with the following terms:
$320,000 sales price
65% loan-to-value (LTV)
12 month term
11% rate of interest
4% origination fee
Jordan plans to list the property at the end of the term for $432,000. If he succeeds, the deal numbers would be as follows:
$432,000 sales price
- $208,000 principle (65% LTV)
- $112,000 down payment (35% on 65% LTV)
- $8,320 origination fee (4% of the $208,000 principle)
- $22,880 total interest paid (12 months x 11% interest)
= $80,800 gross profit (does not include taxes or rehab costs)
by Darius M. 12/18/2018
Not a lot of paperwork, funded within a couple of weeks. All in all, a pretty easy process.Not a lot of paperwork, funded within a couple of weeks. All in all, a pretty easy process.