Real Estate Investors - Prime Funding Group

We simplify the process and have one product to partner with real estate investors. Our funds must be used for business purposes.

Private money (aka hard honey), simplified.

Process

Simplified • Timely • Common Sense

Product

Rate: 11%
Points: 2% – 2.25%
Fees: $0 processing, $0 underwriting, $75 money transfer fee
Bridge Loan: Short-term financing to bridge the gap from purchase to flip/refi
Term: 12 months
Rehab: Rehab done on draws
Balloon: 12 months from the first payment
Extensions: $500 for 3 months (must be approved)
Payment: Interest only on full loan amount
Appraisals: No appraisals are required
Title: Personal names
ACH: Payments paid in arrears on the first of the month through ACH
Mortgage: First lien recorded mortgage
Guarantees: Personal guarantees required

Formulas

Payment

Loan amount × 0.11 (11% rate) = Interest per year
Interest per year ÷ 12 (months) = Monthly payment

Down Payment / Loan Amount

Purchase price + Closing costs + Agreed upon rehab = Total needed
Total needed – Required down payment (earnest money subtracted from required down) = Total loan amount

BRRR

PFG supports and assists in this method of investing

Purchase price + Closing costs + Rehab + Cash out of pocket = Cost basis
Appraised value × .8 = Max loan
Max loan – Cost basis = Cash required

Download our PDF to learn the basics of private lending.