About Markour Funding and Investments
Markour Funding and Investments is a Scottsale, AZ based private lender offering funding in Arizona. Their focus is mainly on fix and flip loans. Their lending guidelines are versatile, including loan amounts starting at $100,000. The focus of their lending is for single family residences and multi family.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: AZ
Fix and Flip LoansLoan Amounts: $100,000 and up
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
Loan Example 1
Shawn closes on a $220,000 rehab project in Phoenix, AZ, using a hard money loan from Markour Funding and Investments. The borrower will have to contribute 30% of the purchase price in cash to the closing based on a 70% loan-to-value stipulated by the lending company. This makes the principle note from Markour Funding and Investments $154,000. The parameters of the deal dictate a 11% note for 18 months. They also stipulate a 5 point origination fee, which will also need to be paid when the property closes.
Accordingly, the borrower will have to contribute a $66,000 down payment plus pay a $7,700 origination fee. Once the deal closes, he will have to pay Markour Funding and Investments $1,412 in monthly interest fees, or 11% times $154,000 divided by 12 months in the year. At the expiration of the loan, he sells the renovated house for $330,000. After subtracting the $25,410 in interest expenses ($1,412 times 18 months), the $7,700 origination fee, the $154,000 principle amount on the loan, and the $66,000 he contributed to the closing, he will earn a gross profit of $76,890 ($330,000 price minus $253,110 in costs). This profit would then be reduced by any building costs paid by Shawn .
Loan Example 2
Clarice takes out a fix and flip loan from Markour Funding and Investments so she can remodel a property to resell in Phoenix, AZ. The deal has the following parameters:
a) A $170,000 sales price, b) a 85% loan-to-value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 3% origination fee.
Once the renovation project is completed, if Clarice sells the house for $212,500, the numbers would be as follows:
$212,500 sales price
- $144,500 note principle (85% LTV)
- $25,500 cash paid at closing (15% on 85% LTV)
- $4,335 origination fee (3% of the $144,500 principle amount)
- $21,675 interest payments (18 months x 10% interest)
= $16,490 total profit (doesn't include taxes or rehab costs)
No Reviews Yet
Markour Funding and Investments currently has no reviews. To add a review now, click the link below: