![]() This time there is no market shut down or covid to blame. Fast forward exactly one year later where I made a grave mistake in bringing the same client back to Global No Integrity and it just happened again to me and the client. The client lost over $2,000 on the appraisals. After we ordered and paid for the appraisals we were then told that they have changed their guidlines and that my client no longer qualified for the deal. We submited six deals and only one closed. My client had close to 700 scores with an exellent portfolio which showed more than enough experience. I brung them a client last year in December before covid hit hard. The reps are great to work with However, The Top Brass does not have any compassion or care about the clients, brokers and not even their employees from what some of them have shared with me. Run Run Run from this company!!!! If you brokerloans like I do, You do not want to bring your deal to this company. = $88,540 total profit (doesn't include taxes or rehab costs) $37,620 interest payments (18 months x 11% interest) $6,840 origination fee (3% of the $228,000 principle amount) The loan has the following terms:Ī) A $380,000 purchase price, b) a 60% loan-to-value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 3% origination fee.īased on a $513,000 sales price after the 18 month term, the final numbers for this project would look like this: This profit does not include building costs.īruce takes a hard money loan from Global Integrity Finance so he can rehab a townhome to re-sell in Houston, TX. If Therese sells the house for $270,000 after 12 months, she would then make a total profit of $69,750 after subtracting the principle of $135,000, the money paid at closing of $45,000, the origination fee of $2,700, and the aggregate interest payments of $17,550. After the loan closes, she will have to pay Global Integrity Finance $1,463 in monthly interest fees, or 13% times $135,000 divided by 12 months in a year. The loan is interest-only, with monthly payments, and is for 12 months at 13% interest with 2 points to be paid at closing.īy the terms of the loan, Therese will need to pay a $2,700 origination fee plus 25% of the purchase price, or $45,000, based on the 75% LTV. The terms of the loan include a 75% loan-to-value (LTV), so she must bring 25% of the price as cash at closing, which makes the principle loan amount $135,000. The house has a cost of $180,000 but she does not have the full amount so she takes a hard money loan with Global Integrity Finance. She discovers a run-down property for sale and decides to rehab it and re-sell it for a profit. Therese is a house flipper in Houston, TX. They do not represent actual loans executed by Global Integrity Finance. The following loans are for education purposes only. Please confirm all terms and rates directly with the lender. ![]() ![]() Lending Guidelines for Global Integrity Financeīelow are the general loan guidelines published on the Global Integrity Finance website. Property Types Covered: Single Family, Multi Family, Apartment, Mixed Use, MedicalĪreas Served: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MO, MS, MT, NC, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY, MN Loan Types Offered: Hard Money Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans ![]() Global Integrity Finance prides itself on the unparalleled level of service their team provides. They fund all loans using their own capital. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. Global Integrity Finance are commercial hard money lenders based in McKinney, Texas.
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