About MoneyBridge Partners
Based in McLean, VA, MoneyBridge Partners is an asset-based lender providing funding throughout Virginia. Their lending focus is mainly on ground up construction loans. Their lending parameters are versatile, including terms up to 1 year. They provide loans on many types of properties, including multi-family units, apartments, offices, retail units, hotels/motels, storage facilities, mixed use, warehouses, and industrial buildings.
Loan Types Offered: New Construction Loans
Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Mixed Use, Warehouse, Industrial
Areas Served: VA
Lending Guidelines for MoneyBridge Partners
Below are the general loan guidelines published on the MoneyBridge Partners website. Please confirm all terms and rates directly with the lender.
New Construction LoansLoan Amounts: N/A
Available Rates: N/A
Typical Terms: Up to 12 months
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 MoneyBridge Partners.
Loan Example 1
Daniel takes a private money loan from MoneyBridge Partners in order to renovate a house to resale in Virginia Beach, VA. The sales price of the house is $300,000. Since the lender sets a 80% loan-to-value, Daniel will have to put 20% down and the principle amount of the note will be $240,000. The interest rate on the note is 10% for a length of 6 months and the lender requires a two point origination fee at closing. The interest is to be paid monthly and the principle will be paid back after the property sells.
Daniel will need to contribute $60,000 to the closing (20% on the 80% loan-to-value), plus he will have to pay the $4,800 origination fee. After the deal closes, he will have to pay the lender $2,000 in monthly interest fees, or 10% times $240,000 divided by 12 months in a year. Assuming Daniel sells the remodeled project for $375,000 at the end of the 6 month term, his gross profit (not including rehab costs) would be $58,200. This is computed by taking the sales price ($375,000) and subtracting the original note amount ($240,000), the origination fee ($4,800), the money he brought to closing ($60,000), and the total interest expenses ($12,000).
Loan Example 2
MoneyBridge Partners issues a hard money loan to Margie for a rehab project in Virginia Beach, VA. The deal dictates the following:
$350,000 purchase price
55% loan-to-value (LTV)
12 month term
13% interest rate
3% origination fee
Once the rehab project is completed, if Margie sells the property for $525,000, the final numbers would be the following:
$525,000 sales price
- $192,500 loan principle (55% LTV)
- $157,500 cash paid at closing (45% on 55% LTV)
- $5,775 origination fee (3% of the $192,500 principle amount)
- $25,025 interest payments (12 months x 13% interest)
= $144,200 gross profit (doesn't include taxes or rehab costs)
No Reviews Yet
MoneyBridge Partners currently has no reviews. To add a review now, click the link below: