#Loan arranger san diego plus

If Charlene sells the house for $536,500 after 12 months, she would then earn a total profit of $139,860 after deducting the principle amount of $222,000, the funds contributed at closing of $148,000, the origination fee of $2,220, and the aggregate interest payments of $24,420. After the deal is executed and Charlene takes on the project, she will begin making monthly payments of $2,035 to the lender ($222,000 principle x 11% / 12 months).

#Loan arranger san diego plus

Therefore, Charlene will have to contribute a $148,000 down payment plus pay a $2,220 origination fee.

The interest is to be paid monthly and the principle amount will be returned after the sale of the property. The rate on the note is 11% for a length of 12 months and the lender requires a one point origination fee at the close. The terms of the loan include a 60% loan-to-value (LTV), so she must bring 40% of the price as cash at closing, making the principle note amount $222,000. Charlene takes a private money bridge loan from North Shore Lending Corporation in order to renovate a duplex to flip in the College West subdivision of San Diego, CA. Lets enjoy this San Diego weekend with films, music, kites and more while also counting down to the season thats JUST ahead.