Hard Money Loan Calculator
For the last decade, Optimus Capital has been a leader in hard money lending. We serve real estate investors across the country.
If you are purchasing, remodeling, or “flipping” a property then you might need a calculator like this. (see below)
As a real estate investor it would benefit you to take the time and determine as much as possible about the deal as possible. A hard money loan calculator will help “paint” a picture for you of the overall deal numbers. Use our free loan calculator and gather all of the information that you will need to make a decision on whether or not to do the deal. It will also help you determine how much down you will need to bring to the table and all the other associated costs involved.
You will need the following information:
- Purchase price or property As Is value
- rehab or renovation amount
- After Repaired Value or ARV
- Interest rate (for hard money loan)
- Points or origination being charged by lender
- The Turn time to flip or exit the property
- Property taxes amount
- Transfer tax, state tax, recording fees
With the above information you should be able to input those numbers into a hard money loan calculator and receive the following information:
- Total project cost
- New profit
- Return on project cost
- Loan amount
- Total LTC or loan to cost
- Monthly interest payments
- Points cost
- Total interest cost
- and more
Enter Your Deal Information Below
Monthly Carrying Costs
Glossary of Terms
See The Glossary of Terms Below Which Will Help You Understand
Hard Money Loans
Hard Money Loans usually are a very route to financing your fix and flip deals. These type of loans are usually based on the property’s value, both As Is and After Repaired Value and not as much on the buyer’s qualifications. These types are most expensive than traditional loans issued by banks.
These types of loans usually involve much less paperwork and in many cases your income is not a requirement. There is no DTI requirement involved with traditional bank loans. These loans can usually be closed very quickly, sometimes in days.
Banks on average require much more time. These types of loans are known as “bridge loans” meaning they are short-term loans designed to assist the acquisition of a property for a real estate investor. The real estate investor usually then remodels the property and sells it on the market afterward.
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