6334 Forward Ave
Pittsburgh, PA 15217
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About Lakeview Capital
Lakeview Capital is a hard money lender headquartered in Pittsburgh, PA offering funding in Pittsburgh. Their focus is primarily on fix-and-flip loans. They primarily offer funding on single family homes.Visit Website
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family
Areas Served: Pittsburgh
Lending Guidelines for Lakeview Capital
Below are the general loan guidelines published on the Lakeview Capital 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): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
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 Lakeview Capital.
Loan Example 1
Craig takes a private money loan from Lakeview Capital in order to renovate a duplex to resale in Pittsburgh, PA. The sales price of the property is $250,000. The terms of the deal include a 85% loan-to-value (LTV), so he must bring 15% of the price as cash at closing, making the principle loan amount $212,500. The loan also consists of the following features: 1) a 18 month term, 2) a 12% interest only note, and 3) a one point origination charge.
Therefore, Craig will need to make a $37,500 down payment plus pay a $2,125 origination fee. Lakeview Capital will collect $2,125 in monthly interest from the borrower. This is calculated by taking the total note value of $212,500, multiplying that by the 12% interest rate, and then dividing that number by 12. Craig's intention is to finish the renovation within the 18 months and sell it for $350,000. If he succeeds he will make a total profit of $59,625 ($350,000 price - $212,500 principle - $37,500 down payment - $2,125 origination fee - $38,250 in total interest paid.
Loan Example 2
Lakeview Capital makes a loan to Benjamin for a remodeling project in Pittsburgh, PA. The deal dictates the following:
$350,000 sales price
75% loan to value (LTV)
6 month term
13% interest rate
5% origination fee
Benjamin plans to list the project when the note expires for $420,000. If he succeeds, the outcome will be as follows:
$420,000 sales price
- $262,500 loan principle (75% LTV)
- $87,500 cash paid at closing (25% on 75% LTV)
- $13,125 origination fee (5% of the $262,500 principle)
- $17,063 interest payments (6 months x 13% interest)
= $39,813 total profit (does not include taxes or renovation costs)
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