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Park Place Finance describing itself
Park Place Finance
Austin, TX·Founded 2006·Nationwide
Park Place Finance is a nationwide direct hard money lender offering same-day approvals and 3-5 day average closings on fix-and-flip, bridge, construction, and DSCR rental loans.
Loan programs
Maximum leverage
Max LTV 80%Max LTC 90%
Fix & Flip
$100K – $2.5MTerm
12 mo – 23 mo
Rate
9.99% – 12.99%
Amortization
Interest-Only
Maximum leverage
Max LTV 80%Max LTC 90%Max ARV 70%Max LTCV 65%
DSCR / Long-Term Rental
$100K – $2.5MTerm
30 yr
Rate
7.25% – 10%
Amortization
30-Year Fixed, Interest-Only
Maximum leverage
Max LTV 80%Max LTV (cash-out) 75%
Eligible property types
Single-Family (SFR) · Condo / Townhome / PUD · 2–4 Unit Residential · Short-Term Rental (STR)
Term
30 yr
Rate
7.25% – 10%
Amortization
30-Year Fixed
Maximum leverage
Max LTV 80%Max LTC 75%Max LTCV 65%
Eligible property types
Single-Family (SFR) · 2–4 Unit Residential
Maximum leverage
Max LTV 80%Max LTC 90%
Also offers— no published terms
Terms & qualification
- Typical loan size
- $100K – $2.5M
- Typical term
- 12 mo – 23 mo
- Interest rate
- 9.99% – 12.99%
- Origination / points
- 1.5% to 3%
- Minimum FICO
- 640
- Prepayment structure
- None
- Experience required
- No experience required for fix-and-flip or bridge loans. Ground-up construction requires at least 1 completed project in the past two years.