About Yogic Private Lenders
Yogic Private Lenders is an Albuquerque, NM based private money lender. They provide loans in New Mexico. Their lending focus is primarily on fix-and-flip loans. They primarily provide funding on single family residences and multi-family units.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: NM
Lending Guidelines for Yogic Private Lenders
Below are the general loan guidelines published on the Yogic Private Lenders website. Please confirm all terms and rates directly with the lender.
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: 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 Yogic Private Lenders.
Loan Example 1
Angeline closes on a $230,000 rehab project in Albuquerque, NM, using a fix and flip loan from Yogic Private Lenders. Because the lender agrees to a 60% loan to value, Angeline will have to put 40% down so the principle amount of the note will be $138,000. The terms of the deal dictate a 14% note for 6 months. They also require a 1 point origination fee, which will also need to be paid upon closing.
According to the terms of the loan, Angeline will be required to contribute a $1,380 origination fee in addition to 40% of the purchase price, or $92,000, since there is a 60% LTV. The lender will collect $1,610 in monthly interest from the borrower. This is computed by taking the total note amount of $138,000, multiplying by the 14% rate of interest, and then dividing that amount by 12. If Angeline sells the project for $333,500 after 6 months, she would realize a gross profit of $92,460 after subtracting the original principle of $138,000, the money contributed at closing of $92,000, the origination fee of $1,380, and the total interest payments of $9,660. This profit does not include remodeling costs.
Loan Example 2
Brandy is a an investor in Albuquerque, NM. She locates an older townhouse for a remodeling project and obtains a private money loan from Yogic Private Lenders with the following paramters:
$320,000 sales price
60% loan-to-value (LTV)
18 month term
12% rate of interest
2% origination fee
Assuming a $400,000 sales price at the end of the 18 month term, the outcome for this project would look like the following:
$400,000 sales price
- $192,000 principle (60% LTV)
- $128,000 cash paid at closing (40% on 60% LTV)
- $3,840 origination fee (2% of the $192,000 principle amount)
- $34,560 total interest paid (18 months x 12% interest)
= $41,600 total profit (doesn't include taxes or renovation costs)
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