About Trimark Funding
Trimark Funding is hard money lender headquartered in Anaheim Hills, CA. They provide funding in California. Their lending focus is mainly on fix and flip hard money loans. They do not require a minimum FICO rating to receive a loan. The focus of their loans is for single family and multi-family units.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: CA
Fix and Flip 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: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: 4 - 5 Days
Loan Example 1
Rosalinda closes on a $240,000 renovation project in Los Angeles, CA, using a fix and flip loan from Trimark Funding. The loan-to-value (LTV) on the loan is 50%. This means that Rosalinda will have to bring 50% of the purchase price to the closing and the principle will be $120,000 on the note. The note is interest only, paid monthly, and is for 18 months at 12% interest with 4 points paid when the deal closes.
The borrower must bring a total of $32,400 up front to cover the $120,000 down payment in addition to the $4,800 origination fee. The monthly interest only payments will then be $1,200 to Trimark Funding. Rosalinda 's plan is to finish the house by the end of the 18 months and resell it for $288,000. If she succeeds she will earn a gross profit of $21,600 ($288,000 price - $120,000 principle - $120,000 cash at closing - $4,800 origination points - $21,600 in interest.
Loan Example 2
Trimark Funding issues a loan to Terri for a rehab project in Los Angeles, CA. The deal dictates the following:
a) A $150,000 purchase price, b) a 65% loan-to-value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 4% origination fee.
If Terri succeeds in her goal of a $210,000 sales price, the outcome of the deal will be the following:
$210,000 sales price
- $97,500 principle (65% LTV)
- $52,500 cash paid at closing (35% on 65% LTV)
- $3,900 origination fee (4% of the $97,500 principle)
- $7,800 interest payments (12 months x 8% interest)
= $48,300 total profit (doesn't include taxes or rehab costs)
by Richard H. 11/29/2017
by Mark I. 10/04/2017
Great team at Trimark Funding, I have been using Mark & Tyler for a few years now as a lender and they are one of the best out there, for shear speed and...
Read more on Yelp!Great team at Trimark Funding, I have been using Mark & Tyler for a few years now as a lender and they are one of the best out there, for shear speed and...
Read more on Yelp!
by Sue P. 08/03/2017
Been working with Trimark for years....they get you the best deal despite yourself and the deal sticks. It isn't easy out there but these guys know what...
Read more on Yelp!Been working with Trimark for years....they get you the best deal despite yourself and the deal sticks. It isn't easy out there but these guys know what...
Read more on Yelp!