About One West
One West is private lender based in Saint Louis, MO. They offer loans throughout St Louis. Their lending focus is primarily on buy and hold loans. They will consider various lending scenarios but mainly focus on single family residences.
Loan Types Offered: Investment Property Loans
Property Types Covered: Single Family
Areas Served: St Louis
Lending Guidelines for One West
Below are the general loan guidelines published on the One West website. Please confirm all terms and rates directly with the lender.
Investment Property 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 One West.
Loan Example 1
One West issues a hard money loan to Dan for a renovation project in St Louis, MO, on a property that costs $340,000. The terms of the note include a 50% loan to value (LTV), so he must contribute 50% of the price as cash at closing, making the principle loan amount $170,000. The terms of the deal also stipulate a four point origination fee that is to be paid at the closing and a 12 month, interest-only note with a 8% interest rate.
Dan will have to contribute $170,000 to the closing (50% on the 50% loan-to-value), plus he will pay the $6,800 origination fee. The monthly interest only payments will then total $1,133 to the lender. If he sells the rehabed project for $493,000 at the end of the 12 month term, his total profit (not including rehab expenses) would be $132,600. This is calculated by taking the sales price ($493,000) and subtracting the principle ($170,000), the origination cost ($6,800), the money he contributed to closing ($170,000), and the total interest expenses ($13,600).
Loan Example 2
Isaac locates a duplex in St Louis, MO to renovate and resell. Since he does not have enough cash to buy the property outright, he takes a hard money loan from One West with the following parameters:
$280,000 sales price
70% loan to value (LTV)
12 month term
13% interest rate
2% origination fee
After the rehab project is complete, if Isaac sells the house for $350,000, the final numbers would be the following:
$350,000 sales price
- $196,000 note principle (70% LTV)
- $84,000 down payment (30% on 70% LTV)
- $3,920 origination fee (2% of the $196,000 principle)
- $25,480 interest payments (12 months x 13% interest)
= $40,600 total profit (does not include taxes or renovation costs)
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