Premier Financial Services

About Premier Financial Services

Premier Financial Services is private lender based in Charlotte, NC. They provide loans across the US. They offer private commercial loans and fix-and-flip loans. They provide loans on all the following property types: single family residences, multi family, office units, retail units, industrial buildings, mixed use buildings, and apartment buildings.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial, Mixed Use, Apartment

Areas Served: National

Lending Guidelines for Premier Financial Services

Below are the general loan guidelines published on the Premier Financial Services 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 Premier Financial Services.

Loan Example 1

Ruben takes a private money loan from Premier Financial Services in order to remodel a property to flip in Oxnard, CA. The sales price of the house is $320,000. As the lender sets a 60% loan to value, Ruben will have to put 40% down so the total amount of the note will be $192,000. The parameters of the loan dictate a 9% note for 6 months. They also require a 1 point origination fee, that will also have to be paid when the property closes.

On top of the $1,920 origination fee, Ruben will also need to fund $128,000 of the purchase with his own funds, or 40% of the sales price. Once the loan is closed and Ruben takes over the project, he will begin making payments each month of $1,440 to Premier Financial Services ($192,000 principle x 9% / 12 months). At the expiration of the note, he sells the renovated house for $480,000. After deducting the $8,640 in total interest payments ($1,440 multiplied times 6 months), the $1,920 origination fee, the $192,000 principle amount on the note, and the $128,000 he brought to closing, he will earn a gross profit of $149,440 ($480,000 sales price minus $330,560 in total costs). This amount would be reduced by any renovation costs paid by the borrow.

Loan Example 2

Wallace locates a duplex in Salem, OR to rehab and re-sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Premier Financial Services with the following parameters:

$290,000 sales price
55% loan-to-value (LTV)
12 month term
12% interest rate
3% origination fee

Wallace plans to list the project when the note expires for $406,000. If he succeeds, the deal numbers would be as follows:

$406,000 sales price
- $159,500 note principle (55% LTV)
- $130,500 down payment (45% on 55% LTV)
- $4,785 origination points (3% of the $159,500 principle amount)
- $19,140 interest payments (12 months x 12% interest)
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= $92,075 total profit (does not include taxes or rehab costs)

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