About Mayava Capital Funding
Mayava Capital Funding is a private money lender in Syosset, NY providing loans in New York. Their lending focus is primarily on commercial loans. They do not require a minimum credit rating to receive a loan. They offer loans on all of the following property types: multi family, retail units, office buildings, apartment buildings, industrial buildings, storage buildings, and warehouse buildings.
Loan Types Offered: Commercial Hard Money Loans
Property Types Covered: Multi Family, Retail, Office, Apartment, Industrial, Storage, Warehouse
Areas Served: NY
Commercial 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: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: NO
Time to Close: N/A
Loan Example 1
Mayava Capital Funding makes a hard money loan to Fred for the purchase of a new office space after he is turned down for a conventional mortgage loan by his local bank due to a low credit rating. The lender agrees to a 70% loan-to-value (LTV) on the deal and the building costs $150,000, so they will contribute $105,000 and Fred will be responsible for the remaining $45,000. The lender additionally stipulates the following terms to the transaction: 1) a 12% rate of interest, 2) a 6 month length with interest-only payments to be made each month, 3) an origination fee of 3 percent paid by the borrower at the close, and 4) no pre-payment penalty. In accordance with the parameters of the deal, Fred will have to pay an origination fee of $3,150 when the deal is executed. He will also start making payments of $1,050 per month throughout the duration of the note and will pay off the principle at the expiration of the 6 month loan term. If he decides to pay back the note early, he can do so without additional expense since there is no pre-payment penalty associated with the note.
Loan Example 2
Imogene finds a duplex in Brooklyn, NY to rehab and re-sell. Because she does not have enough cash to buy the property outright, she takes a hard money loan from Mayava Capital Funding with the following parameters:
a) A $330,000 sales price, b) a 80% loan-to-value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 1% origination fee.
If Imogene succeeds in her goal of a $396,000 sales price, the numbers of the deal would be as follows:
$396,000 sales price
- $264,000 loan principle (80% LTV)
- $66,000 down payment (20% on 80% LTV)
- $2,640 origination points (1% of the $264,000 principle amount)
- $55,440 interest payments (18 months x 14% interest)
= $7,920 total profit (does not include taxes or renovation costs)
by Sean O. 12/14/2015
by Ryan A. 12/15/2015
Mayava capital gets the job done. I've worked with a ton of brokers over the past couple years and the people at Mayava are second to none. They have a true...
Read more on Yelp!Mayava capital gets the job done. I've worked with a ton of brokers over the past couple years and the people at Mayava are second to none. They have a true...
Read more on Yelp!