How to Calculate Your Hard Money Loan Amount
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- Опубліковано 7 лип 2024
- Do you know how to calculate your hard money loan amount? In this video, hard money expert Mike Bonn shows you how real estate lenders determine the amount of money they will offer to fund your real estate investment.
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VIDEO CHAPTERS
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0:00 - Intro
1:02 - What is the maximum loan value/ARV?
2:15 - Example of maximum loan value/ARV
3:38 - What a real estate lender actually lends to investors - 90/100
8:17 - 80/100 - Example of a hard money loan
10:56 - How to calculate carry costs
12:34 - Email us to help look at your hard money loan
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Email: Mike@HardMoneyMike.com
Phone: 303-539-3000
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WHO WE ARE
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How to invest in real estate the RIGHT way. That's what we're here to do. For 23 years, Hard Money Mike has provided topnotch lending services to real estate investors across the United States. We offer the best options in private lending for fix and flips, rentals, and other value-add properties. Plus, we can fund bridge loans in 10 days or less! If you’re looking for quality, FAST loans with the highest loan-to-values and best rates, then our team is ready to help. No experience required!
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Cleanest breakdown I’ve seen. Thank you!
great video!!
Yeah it's true
Hands down best walkthrough on hard money loans
I am glad it helps. Have a great day
How does the hard money loan work if the lender wants points? Can u do an example of that. I dont understand of the points is tied to the principle at the end or principle and interest
Example if we have a loan for $200k and 2 points it is 2% of $200k. 200,000 x .02 = $4,000 in the cost of the post.
Hi thank you for the video it really helps allot, I'm looking into buying a 50k home and my credit score is 680 right now how much do you think it would be the monthly payment for 50k the property has a tenent on the first floor and the second floor needs just a little rehab floors maybe kitchen and bathroom and What about if I want to keep the property after i repair what can I do if I don't want to sell the property and kept it as a rental?
We can help with loan amounts of any size. We just need all the numbers...ARV and rehab budget. What state are you in.
Can you use hard money loan to only rehab a home? Let's say I purchased the house from a deed auction in lesser conditions can I use this type of loan for that?
Yes. You can use a hard money loan on any good real estate project. It is harder to find hard money lenders for properties you live in.
I don’t understand in a hard money loan are you only paying interest.....? Is there a balloon payment of principal at the end of the agreed time? I have a house that I’m looking at purchase price of 500K ARV of 875K i’m looking to do a flip and use hard money lending. 70%LTV = 612K. Repairs needed for property is 65K. Assuming 10% in closing costs + Origination and upfront fees. How much cost would be in a hard money loan? how much profit would be realized,? my main question is are you paying principal and interest? Or just interest? Confused as that then would sound like transactional funding and wouldn’t understand how the rest of the loan(Principal is paid off).
1. Almost all the time on a hard money loan it is interest only to help with cash flow during rehab. 2. Yes they are set up as balloon payment loans. 3. So many loan types have different names but do the same thing...finance the purchase and rehab for flips and fix and holds. 4. Principal is paid off when you sell it. If you want me to run the numbers and send them to you email me at Mike@HardMoneyMike.com. Thanks
@@HardMoneyMikeHMM thank you for the helpful and quick reply 🙂
@@lettherebelight6910 your welcome
I am not understanding English using the language bemba
I want k200,000 using projects properties