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The loan that is median in this town is 17 months in total. The note that is mean a 3.4 point origination cost.

The loan that is median in this town is 17 months in total. The note that is mean a 3.4 point origination cost.

There are 49 fix and lenders that are flip loans in Ponca City, OK. The average note amount is $283,929 in this city. Rates for difficult cash loans average around 10.6%. The loan that is median in this town is 17 months in total. The note that is mean online payday loans Connecticut a 3.4 point origination cost. The typical loan to value provided for loans in Ponca City is 71%.

Clarence closes for a $250,000 renovation task in Ponca City, okay, utilizing a money that is hard from Axis Investment Corporation. The mortgage to value (LTV) in the note is 85%. This means Clarence will have to bring 15% for the price to your closing in addition to concept shall be $212,500 in the loan. The offer additionally is comprised of the after features: 1) a 6 month size, 2) a 12% interest only note, and 3) a three point origination cost.

Consequently, Clarence will likely be necessary to add a $37,500 advance payment along with spending a $6,375 origination cost. Following the deal closes, he can need to pay the lending company $2,125 in monthly interest charges, or 12% increased by $212,500 split by one year in per year. During the expiration of this loan, he sells the renovated home for $375,000. The $212,500 principle on the loan, and the $37,500 he brought to the closing, he will make a gross profit of $105,875 ($375,000 sales price minus $269,125 in costs) after subtracting the $12,750 in interest payments ($2,125 multiplied by 6 months), the $6,375 origination fee. This revenue could be paid off by any rehab expenses given out of pocket.

Nicholas discovers home in Ponca City, okay to renovate and offer. He takes a fix and flip loan from North End Lending with the following parameters: a) A $390,000 sales price, b) a 85% loan to value (LTV), c) a 18 month term, d) a 13% interest rate, and e) a 5% origination fee because he does not have enough cash to buy the property outright. Following the renovation task is finished, if Nicholas offers the task for $565,500, the results will be the following: $565,500 product product sales cost $331,500 concept on note (85% LTV) $58,500 cash compensated at closing (15% on 85% LTV) $16,575 origination points (5percent associated with the $331,500 concept quantity) $64,643 interest payments (18 months x 13% interest) $94,283 total revenue (will not add fees or rehab expenses)

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“WE LEND YOU GROW” Nationwide Premiere Lender. We provide fix and flips at 100per cent purchase, 100% rehab with 65% ARV. We concentrate on various types of loans and also have the cheapest prices & versatile terms! Investor concentrated loan programs that value convenience, transparency, and effectiveness! Temple View Capital is a private lender headquartered in Bethesda, MD. They offer loans in 44 states through the US. They offer brief term fix and flip loans, loans for rental properties, and short term installment loans. Their financing parameters are .

HardMoney is a lender that is national in Beverly Hills, CA that will get the loan funded from $500k $75M for many forms of property tasks. We concentrate on hard cash loans for many commercial and properties that are residential, connection loans, . WE LEND YOU GROW” Xpress Loans 911 believes that the company need to have ready use of working money, exactly like big corporations do. Therefore, we set you with funders that give attention to using tiny and mid sized organizations and so are . Direct Lending Partners originates term that is short property loans for the intended purpose of acquiring and renovating troubled domestic property in the us of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, Los Angeles, MD, MO, NC, NE, .