Sorry, your search returned no results.
Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Real Property Investment Partners
NO APPRAISAL REQUIRED. Providing institutional-grade lending with a local presence.
Ohio Hard Money Interest Rates
According to the hard money loan documents software company, Lightning Docs, the average interest rate for Ohio hard money loans in the 4th quarter of 2023 was 11.59%. The average loan amount was $163,135. These stats are the average of 117 short-term loans (including bridge, rehab, and ground-up construction) funded for properties in Ohio between October 1, 2023 and December 31, 2023 by multiple hard money lenders 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 Ohio hard money loans in the 4th quarter of 2023 was 11.23%. Lenders charged an average of 2.2% points (origination fee). The average LTV (loan-to-value) for private money loans in Ohio was 59%, and the average loan amount was $148,300. 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.
Hard Money Loan Transactions in Ohio
Hard Money Cash-Out Loan for Patterson Park Neighborhood Retail Property in Dayton, Ohio
Gelt Financial, a direct commercial real estate lender, funded a $60,000 hard money equity cash-out loan secured by a small retail property in the Patterson Park neighborhood of Dayton, OH. The Borrower needed cash for another investment. The property was owned free-and-clear but no other hard money lender would consider a loan amount under $100K. The Borrower had poor credit, so he was having a hard time getting other types of alternative financing. We liked the deal because it was such a low loan-to-value of around 20%. The estimated value was around $300,000. The subject property had 3 units. All of them were leased. We looked beyond the Borrower’s poor credit and underwrote the loan based on the rental income. The loan term for our 1st mortgage was set at 60 months, amortized. The Borrower plans to eventually refinance after a few years. This hard money loan was funded in August 2021.