About RBD Lending Inc
RBD Lending Inc is a Boca Raton, FL based hard money lender. They offer funding throughout Broward County, Miami-Dade County, and Palm Beach County. Their focus is primarily on investment property loans. They offer loans with a maximum LTV of 70% and rates ranging between 8% and 10%. They will consider various lending scenarios but mainly focus on single family homes and multi-family.
Loan Types Offered: Investment Property Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Broward County, Miami-Dade County, Palm Beach County
Lending Guidelines for RBD Lending Inc
Below are the general loan guidelines published on the RBD Lending Inc website. Please confirm all terms and rates directly with the lender.
Investment Property LoansLoan Amounts: N/A
Available Rates: 8% - 10%
Typical Terms: N/A
Points Charged: 1% - 3%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): 100%
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 RBD Lending Inc.
Loan Example 1
Serena finds a townhome in Miami, FL to renovate and resell. Since she does not have enough cash to purchase the $320,000 property outright, she decides to take out a private money loan from RBD Lending Inc. The loan-to-value (LTV) on the loan is 60%. This means that Serena will bring 40% of the sales price to the closing and the principle will be $192,000 on the loan. The parameters of the loan also stipulate a three percent origination fee that is to be paid at the closing and a 12 month, interest only note with a 9% rate of interest.
Accordingly, Serena will be required to make a $128,000 down payment in addition to paying a $5,760 origination fee. she must then pay $1,440 per month to the lender. If Serena accomplishes her goal of a $480,000 sales price when the loan expires, she would pocket a gross profit of $136,960 after re-paying the principle on the note and subtracting the money she brought to closing, the origination points, and the total interest payments.
Loan Example 2
Virgil is a an investor in Miami, FL. He locates a run-down townhouse for a remodeling project and obtains a hard money loan from RBD Lending Inc with the following terms:
a) A $210,000 purchase price, b) a 80% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 2% origination fee.
Based on a $252,000 sales price after the 6 month term, the final numbers for the project would look like this:
$252,000 sales price
- $168,000 note principle (80% LTV)
- $42,000 cash paid at closing (20% on 80% LTV)
- $3,360 origination fee (2% of the $168,000 principle amount)
- $9,240 total interest paid (6 months x 11% interest)
= $29,400 total profit (doesn't include taxes or renovation costs)
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