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.Visit Website
Loan Types Offered: Commercial Hard Money Loans
Property Types Covered: Multi Family, Retail, Office, Apartment, Industrial, Storage, Warehouse
Areas Served: NY
Lending Guidelines for Mayava Capital Funding
Below are the general loan guidelines published on the Mayava Capital Funding website. Please confirm all terms and rates directly with the lender.
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
The following loans are for education purposes only. They do not represent actual loans executed by Mayava Capital Funding.
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)
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!
We work closely with the Mayava Capital team to put deals together. We know this operation well and they provide the best brokerage service out there. Period
Read more on Yelp!We work closely with the Mayava Capital team to put deals together. We know this operation well and they provide the best brokerage service out there. Period
Read more on Yelp!