Pinnacle Hard Money

About Pinnacle Hard Money

Headquartered in Meridian, ID, Pinnacle Hard Money is a hard money lender providing funding all throughout the country. They offer loans for many different scenarios, including cash out loans, hard money loans for commercial properties, short term bridge loans, and fix-and-flip hard money loans. Their lending guidelines are versatile, including loan amounts ranging from $100,000 to $10,000,000 with a maximum LTV of 60%, rates ranging between 12% and 16%, and terms between 6 months and 2 years. They provide loans on all of the following types of properties: single family homes, multi-family, apartments, office buildings, retail storefronts, hotels/motels, storage facilities, senior living facilities, mixed use buildings, warehouse buildings, industrial facilities, medical buildings, raw land, and churches.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land, Church

Areas Served: National

Lending Guidelines for Pinnacle Hard Money

Below are the general loan guidelines published on the Pinnacle Hard Money website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Pinnacle Hard Money.

Loan Example 1

Darrell finds a townhome in Alexandria, VA to remodel and sell. Since he doesn't have enough cash to buy the $310,000 project outright, he decides to take out a private money loan from Pinnacle Hard Money. The borrower will have to bring 30% of the sales price in cash to closing based on a 70% loan to value stipulated by the lender. This makes the principle note from Pinnacle Hard Money $217,000. The terms of the loan dictate a 10% note for 12 months. They also stipulate a 2 point origination fee, that will also have to be paid upon closing.

Accordingly, the borrower will be required to make a $93,000 down payment plus pay a $4,340 origination fee. The lender will collect $1,808 in monthly interest payments from the Darrell. This is computed by taking the total note amount of $217,000, multiplying that by the 10% rate of interest, and then dividing that number by 12. At the expiration of the note, he sells the renovated property for $418,500. After deducting the $21,700 in interest expenses ($1,808 multiplied times 12 months), the $4,340 origination fee, the $217,000 principle amount on the note, and the $93,000 he brought to closing, he will make a gross profit of $82,460 ($418,500 price minus $336,040 in total costs). This profit would be reduced by any building costs paid out of pocket.

Loan Example 2

Chad is a an investor in Austin, TX. He buys a run-down house for a renovation project and takes a fix and flip loan from Pinnacle Hard Money with the following paramters:

$230,000 sales price
80% loan to value (LTV)
6 month term
10% interest rate
2% origination fee

Chad intends to sell the project when the note expires for $345,000. If he succeeds, the deal numbers would be the following:

$345,000 sales price
- $184,000 note principle (80% LTV)
- $46,000 cash paid at closing (20% on 80% LTV)
- $3,680 origination points (2% of the $184,000 principle amount)
- $9,200 interest payments (6 months x 10% interest)
-----------------------
= $102,120 total profit (does not include taxes or rehab costs)

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