About Pinnacle Lending Group
Based in Capistrano Beach, CA, Pinnacle Lending Group is a private money lender offering loans in Las Vegas. Their focus is primarily on rental property loans. The focus of their loans is on single family homes and multi family residences.
Loan Types Offered: Investment Property Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Las Vegas, Orange County
Licenses: CORPORATE NMLS#: 344850, Nevada License #: 2306, California NMLS# 374818 (BRE) #1525171, (DBO) 60DBO37504, Arizona NMLS# 173000, AZDFI 0947873
Lending Guidelines for Pinnacle Lending Group
Below are the general loan guidelines published on the Pinnacle Lending Group 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 Pinnacle Lending Group.
Loan Example 1
Elaine is a house flipper in Las Vegas, NV. She locates an older property and decides to remodel it and sell it for a profit. The house has a cost of $310,000 but she doesn't have the full amount so she takes out a hard money loan with Pinnacle Lending Group. The loan to value (LTV) on the note is 70%. This means Elaine will bring 30% of the sales price to the closing and the principle will be $217,000 on the note. The loan also includes these features: 1) a 6 month length, 2) a 11% interest only note, and 3) a five point origination charge.
In accordance with the terms of the note, Elaine will need to pay a $10,850 origination fee in addition to 30% of the sales price, or $93,000, since there is a 70% LTV. she will then pay $1,989 monthly to Pinnacle Lending Group. At the end of the loan, she sells the renovated house for $418,500. After deducting the $11,935 in total interest payments ($1,989 times 6 months), the $10,850 origination fee, the $217,000 principle on the loan, and the $93,000 she contributed to the closing, she will make a total profit of $85,715 ($418,500 price minus $332,785 in total costs). This profit would be reduced by any building costs paid out of pocket.
Loan Example 2
Jeff finds a duplex in Las Vegas, NV to rehab and resell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Pinnacle Lending Group with the following parameters:
$160,000 sales price
75% loan to value (LTV)
6 month term
9% interest rate
2% origination fee
Assuming a $240,000 sales price after the 6 month term, the outcome for this project would look like the following:
$240,000 sales price
- $120,000 note principle (75% LTV)
- $40,000 cash paid at closing (25% on 75% LTV)
- $2,400 origination fee (2% of the $120,000 principle)
- $5,400 total interest paid (6 months x 9% interest)
= $72,200 gross profit (doesn't include taxes or renovation costs)
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