About Woody Financial Realty
Woody Financial Realty is a Long Beach, CA based private lender who offers loans in California. Their focus is mainly on loans for investments properties. They primarily offer loans for single family residences.
Loan Types Offered: Investment Property Loans
Property Types Covered: Single Family
Areas Served: CA
Licenses: California Department of Real Estate License # 01157109
Lending Guidelines for Woody Financial Realty
Below are the general loan guidelines published on the Woody Financial Realty website. Please confirm all terms and rates directly with the lender.
Investment Property 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: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A
The following loans are for education purposes only. They do not represent actual loans executed by Woody Financial Realty.
Loan Example 1
Cecil takes a loan from Woody Financial Realty in order to renovate a condo to flip in Los Angeles, CA. The list price of the property is $200,000. The terms of the note include a 70% loan to value (LTV), so he must contribute 30% of the price as cash to closing, which makes the principle loan amount $140,000. The terms of the loan also stipulate a one percent origination fee that is to be paid at closing and a 12 month, interest-only note with a 9% rate of interest.
Accordingly, the borrower will be required to contribute a $60,000 down payment plus pay a $1,400 origination fee. he must then pay $1,050 per month to Woody Financial Realty. Assuming Cecil sells the remodeled project for $240,000 at the end of the 12 month term, his gross profit (not accounting for renovation costs) would be $26,000. This is calculated by taking the sales price ($240,000) and subtracting the original note amount ($140,000), the origination cost ($1,400), the money he contributed to closing ($60,000), and the total interest payments ($12,600).
Loan Example 2
Willie takes a loan from Woody Financial Realty so he can rehab a property to re-sell in Los Angeles, CA. The loan has the following terms:
a) A $160,000 purchase price, b) a 60% loan to value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 5% origination fee.
If Willie accomplishes his goal of a $232,000 sales price, the outcome of the project would be as follows:
$232,000 sales price
- $96,000 principle (60% LTV)
- $64,000 cash paid at closing (40% on 60% LTV)
- $4,800 origination points (5% of the $96,000 principle)
- $15,840 total interest paid (18 months x 11% interest)
= $51,360 total profit (doesn't include taxes or rehab costs)
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