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
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
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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