We are not private lenders though we do have private lenders available to our customers.
Generally, here is how these loans are calculated by the lenders:
Total the Purchase price, repair costs, and closing costs. The private lender will lend 70%. You put up 30% in cash and/or free and clear equity in real estate. If you have enough free and clear equity, you will likely get your ernest money deposit back at settlement! Rates are generally around 15% per annum, interest only, due in one (1) year, though the loan can likely be rolled over for an additional year upon the payment of additional points. I do have one lender who will do a fully amortized 5 year loan for properties being held for rental.