Massachusetts Private Money Lenders for Real Estate Investors
Seeking a private money loan secured by real estate in Massachusetts? On this page you'll find a list of direct private money lending companies that offer fast funding for a Massachusetts property purchase, refinance, or equity cash out in 1st lien position. Private money loans are for short-term (3-24 months) and primarily qualify based on equity in the subject property, at least 30% for most lenders. Scroll below the lender list.Some private money lenders only consider properties in the Boston Metro Area. If the subject property is in or near Boston, click the button below:
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Nationwide Mortgage
Outstanding Service for Investment Property Bridge, Rehab, Rental, and Construction Loans
Massachusetts Private Money Interest Rates
According to the private money loan documents software company, Lightning Docs, the average interest rate for Massachusetts private money loans in the 4th quarter of 2023 was 11.03%. The average loan amount was $601,359. These stats are the average of 123 short-term loans (including bridge, rehab, and ground-up construction) funded for investment properties in Massachusetts between October 1, 2023 and December 31, 2023 by multiple private lending companies that use Lightning Docs as their preferred software provider to prepare loan documents.
According to private lending data provider, Analytics Logics, the average interest rate for Massachusetts private money loans in the 4th quarter of 2023 was 10.97%. Lenders charged an average of 2.3% points (origination fee). The average LTV (loan-to-value) for private money loans in Massachusetts was 73%, and the average loan amount was $588,139. These stats are the average of all the loans which were funded between October 1, 2023 and December 31, 2023 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Private Money Loan Transactions in Massachusetts
Private Money Refinance Loan for 2 Investment Properties in Massachusetts and California
$1,465,000
Wilshire Quinn Capital, a portfolio bridge lender, funded a $1,465,000 1st lien position private money loan secured by two residential investment properties – one in Southern California and the other in Massachusetts. The Borrower needed to pull cash out from the properties to use for business purposes. The first property is a single-family home in Ranch Mirage, near Palm Springs, CA. The property is located on a golf course, consists of 3,700 square feet, and was appraised for $775,000. The Martha’s Vineyard property sits on a 1.21-acre lot with ocean and bay views. The single-family residence consists of 4 bedrooms, 3 and one-half baths, and 4,700 square feet. The house was built in 2003 with an open floor plan and wrap-around deck. The property was appraised for $5,275,000. The cumulative value of the two properties secured by our 1st trust deed private money loan is $6,050,000, giving the Fund a total loan-to-value of less than 25 percent. This private money loan was funded in October 2016.