Winston North Group

About Winston North Group

Winston North Group is a private money lender based in Washington, DC providing funding throughout the US. They offer commercial hard money loans, cash out hard money loans, short term fix and flip loans, and short term bridge loans. They provide terms up to 3 years, rates ranging between 7.49% and 11.49%, and loan amounts starting from $120,000 with a maximum LTV of 75%. They are able to lend money to any borrower based on the value of the property but also require a minimum FICO rating of 650. They offer loans on the following property types: single family residences, multi family, apartments, office units, retail units, mixed use buildings, industrial buildings, and warehouse buildings.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

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

Areas Served: National

Lending Guidelines for Winston North Group

Below are the general loan guidelines published on the Winston North Group 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 Winston North Group.

Loan Example 1

Saundra closes on a $330,000 rehab project in Lubbock, TX, using a hard money loan from Winston North Group. The terms of the deal include a 80% loan to value (LTV), so she must bring 20% of the price as cash to closing, which makes the principle note amount $264,000. The terms of the loan dictate a 10% note for 6 months. They also stipulate a 5 point origination fee, that will also be paid upon closing.

In addition to paying the $13,200 origination fee, Saundra will also fund $66,000 of the purchase with her own funds, or 20% of the sales price. Once the deal is closed and Saundra takes the property, she will begin making monthly payments of $2,200 to the lender ($264,000 principle x 10% / 12 months). Assuming Saundra sells the renovated project for $429,000 at the end of the 6 month term, her gross profit (not including renovation costs) would be $72,600. This is calculated by taking the sales price ($429,000) and subtracting the principle ($264,000), the origination cost ($13,200), the cash she brought to closing ($66,000), and the total interest expenses ($13,200).

Loan Example 2

Ashlee is a an investor in Lubbock, TX. She finds a run-down townhouse for a rehab project and obtains a fix and flip loan from Winston North Group with the following terms:

$280,000 sales price
80% loan to value (LTV)
6 month term
9% rate of interest
1% origination fee

Assuming a $364,000 sales price after the 6 month term, the outcome for this project would look like this:

$364,000 sales price
- $224,000 principle on note (80% LTV)
- $56,000 down payment (20% on 80% LTV)
- $2,240 origination points (1% of the $224,000 principle)
- $10,080 total interest paid (6 months x 9% interest)
-----------------------
= $71,680 total profit (does not include taxes or rehab costs)

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