
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
Phenix City, AL has 27 construction hard money lenders serving the city. The average loan issued is approximately $286,072. The average interest rate for private loans in Phenix City is 11.2%. The mean length for notes is 12 months. The mean loan includes a 2.7 point origination fee. 73% is the median loan to value for offered by lenders in Phenix City.
Etta wants to buy a lot in Phenix City, AL to construct a tri-plex and resell it. Etta estimates that the construction costs will be around $300,000 and the land will cost $150,000. In order to fund the transaction, she obtains a construction loan from All State Funding Group. They contract to make a loan with a 12% rate of interest for 6 months and 4 origination points paid at closing. Additionally, they agree to fund 85% of the aggregate costs (the loan-to-value / "LTV"). Etta will receive the construction costs in draws and there will be no pre-payment penalty if she re-pays the loan prior to the expiration. According to this loan scenario, Etta will be required to pay the following: 1) $67,500 down (based on the 85% LTV), 2) a $15,300 origination charge ($382,500 principle x 4%), and 3) $3,825 monthly payments. If Etta sells the project for $670,000 she will make a gross profit of $181,750 after paying pack the principle amount and subtracting the origination expense and total interest.
Maggie is a real estate investor and decides to acquire a vacant lot in Phenix City, AL in order to build a duplex. To fund the project, she applies for a construction loan from Ocean View Finance with these parameters:
If Maggie succeeds in her goal of a $700,000 sale, the final numbers of the deal will be as follows:
$700,000 sales price
- $375,000 principle (75% LTV)
- $125,000 cash paid at closing (25% on 75% LTV)
- $18,750 origination fee (5% of the $375,000 principle)
- $67,500 total interest paid (18 months x 12% interest)
-----------------------
= $113,750 total profit
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $500k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
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