If Gene achieves his goal of a $229,500 total sales price when the loan expires, he would collect a gross profit of $40,460 after repaying the principle amount and deducting the money he contributed at closing, the origination points, and the total interest payments.
Yelp is a fun and easy way to find, recommend and talk about what’s great and not so great in Redding and beyond. After the deal is executed and Gene takes the project, he will begin making payments each month of $1,091 to the lender ($119,000 principle x 11% / 12 months). Knighten Enterprises in Redding, reviews by real people. In accordance with the terms of the loan, Gene will have to pay a $5,950 origination fee plus 30% of the sales price, or $51,000, based on the 70% LTV. The interest is to be paid on a monthly basis and the principle will be returned after the sale of the property. Synergy One Lending is located at 3131 Camino Del Rio N, Ste 150 San Diego, CA, United States, read reviews, location or phone (888) 995-1256. The rate on the note is 11% for a term of 12 months and the company requires a five point origination fee at the close. The lender agrees to write a note with a 70% loan-to-value (LTV) so they are willing to extend $119,000 on the property. We turn your feedback in to immediate change for the better.Credence Finance Company makes a private money loan to Gene for a rehab project in Chico, CA, on a house that costs $170,000. Synergy One accomplishes this through a strategic ownership program, servant leadership, and constant collaboration with our employees, community, and customers. Our goal is to consistently serve the needs of our constituents, including our borrowers and referring partners, so everything we do rewards that specific outcome. Our Core Values shape our culture, and their execution is mastered daily by our TEAM.Īlignment of interests is a critical but often overlooked component of successfully managing a growing enterprise. High expectations create a continual cultivation of excellence in our team members, which means an incredible experience for you. Our hiring process uniquely includes reputational and background checks and a stringent interview process. Hiring the best talent means we strive to set the bar in everything we do. We only hire people who embody our Core Values, and we equip them with the best products and systems to execute at the highest level. We conduct ourselves in a manner that places our clients’ interests above our own while providing a process that is precise and consistent. An online resource provides centralized, one-stop shopping for beginning farmers and ranchers to explore the variety of USDA initiatives designed to help. Transparency and education are the cornerstones of our organization. Whether you are a millennial, baby boomer or luxury home buyer, Synergy One Lending stands out because of our relentless pursuit of excellence in our people, our process and the client experience. Synergy One is authorized to Lend in 23 States and provides among the broadest set of mortgage options of any company today. As a national mortgage lender, we offer the best combination of the digital mortgage technology our client’s want along with the expertise of our team they need. is committed to simplifying the home buying experience. During 2021, Mutual Of Omaha Mortgage s average interest rate of loans were 3.04, while their most frequently originated rate bucket of loans were 2.5-3, with 14,643 originations.