About Peach Stone Capital
Headquartered in Atlanta, GA, Peach Stone Capital is a private money lender providing loans in Atlanta. Their lending focus is primarily on short term fix and flip loans. Their lending guidelines are flexible, including rates starting at 14%, terms up to 1 year, and loan amounts starting from $30,000 with a maximum LTV of 65%. They will lend funds to all borrowers based on the property value and do not require a minimum credit score. They will consider various loan scenarios but generally focus on single family units.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family
Areas Served: Atlanta, Cobb County, DeKalb County, Fulton County, Gwinnett County, Forsyth County, Hall County, Cherokee County, Clayton County
Fix and Flip LoansLoan Amounts: $30,000 and up
Available Rates: 14%
Typical Terms: 12 months
Points Charged: 4%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: 5 - 7 Days
Loan Example 1
Molly closes on a $370,000 renovation project in Atlanta, GA, using a hard money loan from Peach Stone Capital. The borrower will be required to bring 30% of the sales price in cash to closing based on a 70% loan-to-value set by the lender. This makes the principle note from Peach Stone Capital $259,000. The terms of the deal dictate a 14% note for 12 months. They also stipulate a 1 point origination fee, that will also be paid at closing.
The borrower must contribute a total of $32,400 upon closing to cover the $111,000 down payment in addition to the $2,590 origination fee. she will then pay $3,022 monthly to Peach Stone Capital. Assuming she sells the renovated house for $555,000 at the end of the 12 month term, her total profit (not accounting for rehab costs) would be $146,150. This is computed by taking the sales price ($555,000) and subtracting the principle ($259,000), the origination fee ($2,590), the cash she contributed to closing ($111,000), and the total interest expenses ($36,260).
Loan Example 2
Micheal is a an investor in Atlanta, GA. He locates an older townhouse for a renovation project and takes a fix and flip loan from Peach Stone Capital with the following paramters:
a) A $370,000 purchase price, b) a 55% loan to value (LTV), c) a 12 month term, d) a 11% interest rate, and e) a 4% origination fee.
After the rehab project is complete, if Micheal sells the property for $462,500, the numbers would be the following:
$462,500 sales price
- $203,500 principle on note (55% LTV)
- $166,500 cash paid at closing (45% on 55% LTV)
- $8,140 origination fee (4% of the $203,500 principle amount)
- $22,385 interest payments (12 months x 11% interest)
= $61,975 total profit (doesn't include taxes or rehab costs)
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