Sandyford Resources Inc

About Sandyford Resources Inc

Sandyford Resources Inc is a Huntington Station, NY based private money lender providing funding all across the US. They offer lending solutions for many different situations, including fix-and-flip loans, short term loans, and hard money loans for commercial properties. They offer loans on numerous types of properties, including single family, multi family, apartments, office buildings, retail storefronts, hotels, storage facilities, assisted living facilities, mixed use, warehouse buildings, industrial buildings, and medical facilities.

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

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

Areas Served: National

Lending Guidelines for Sandyford Resources Inc

Below are the general loan guidelines published on the Sandyford Resources Inc 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 Sandyford Resources Inc.

Loan Example 1

Sandyford Resources Inc issues a private money loan to Leola for a remodeling project in Aurora, CO, on a house that is listed for $190,000. The loan to value (LTV) on the loan is 75%. This means that Leola will bring 25% of the sales price to closing and the principle amount will be $142,500 on the deal. The rate on the note is 12% for a length of 18 months and the company requires a two point origination fee at the closing. The interest is to be paid monthly and the principle will be repaid after the sale of the property.

The borrower must contribute a total of $32,400 up front to cover the $47,500 down payment in addition to the $2,850 origination fee. After the loan is executed and Leola takes over the property, she will begin making monthly payments of $1,425 to Sandyford Resources Inc ($142,500 principle x 12% / 12 months). Assuming she sells the remodeled project for $228,000 at the end of the 18 month term, her gross profit (not accounting for rehab expenses) would be $9,500. This is calculated by taking the sales price ($228,000) and subtracting the principle ($142,500), the origination fee ($2,850), the cash she brought to closing ($47,500), and the total interest expenses ($25,650).

Loan Example 2

Derrick takes out a private money loan from Sandyford Resources Inc in order to renovate a townhouse to resell in Tulsa, OK. The deal has the following terms:

$170,000 purchase price
50% loan-to-value (LTV)
12 month term
8% rate of interest
5% origination fee

Once the rehab project is complete, if Derrick sells the house for $246,500, the final numbers would be as follows:

$246,500 sales price
- $85,000 principle on note (50% LTV)
- $85,000 cash paid at closing (50% on 50% LTV)
- $4,250 origination points (5% of the $85,000 principle)
- $6,800 interest payments (12 months x 8% interest)
-----------------------
= $65,450 gross profit (does not include taxes or renovation costs)

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