WADOT Capital

About WADOT Capital

Based in Seattle, WA, WADOT Capital is a hard money lender offering loans in Washington, Oregon, and Idaho. They offer lending solutions for a variety of situations and needs, including hard money construction loans, fix and flip hard money loans, and hard money loans for commercial properties. Their lending parameters are flexible, including terms between 1 year and 2 years and rates ranging between 10.5% and 12.9%. They provide loans on most property types, including single family, multi-family, offices, retail storefronts, industrial buildings, mixed use buildings, and apartment buildings.

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

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

Areas Served: WA, OR, ID

Licenses: NMLS ID# 3213

Lending Guidelines for WADOT Capital

Below are the general loan guidelines published on the WADOT Capital 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 WADOT Capital.

Loan Example 1

Tommy takes a hard money loan from WADOT Capital in order to rehab a townhouse to flip in Portland, OR. The price of the house is $390,000. The borrower will need to contribute 20% of the sales price in cash to closing based on a 80% loan to value set by the lending company. This makes the principle note from WADOT Capital $312,000. The interest rate on the note is 8% for a term of 6 months and the company requires a five point origination fee at the closing. The interest payments are to be paid on a monthly basis and the principle will be repaid after the property sells.

In accordance with the terms of the deal, Tommy will need to pay a $15,600 origination fee plus 20% of the sales price, or $78,000, based on the 80% LTV. he will then pay $2,080 monthly to WADOT Capital. Tommy's intention is to complete the project within the 6 months and sell it for $565,500. If he succeeds he will make a profit of $147,420 ($565,500 sales price - $312,000 principle amount - $78,000 down payment - $15,600 origination fee - $12,480 in total interest.

Loan Example 2

Jenna is a an investor in Portland, OR. She finds a run-down townhouse for a remodeling project and takes a hard money loan from WADOT Capital with the following terms:

$270,000 purchase price
50% loan-to-value (LTV)
18 month term
11% interest rate
3% origination fee

Jenna intends to sell the project at the end of the term for $364,500. If she accomplishes her goal, the outcome would be the following:

$364,500 sales price
- $135,000 note principle (50% LTV)
- $135,000 cash paid at closing (50% on 50% LTV)
- $4,050 origination points (3% of the $135,000 principle)
- $22,275 total interest paid (18 months x 11% interest)
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= $68,175 gross profit (doesn't include taxes or rehab costs)

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