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Bridge Loans in Agate, North Dakota
Agate, ND has 18 hard money lenders issuing loans in the city. The median amount for loans in the city is $534,375. Interest rates on private loans made to Agate investors average around 12.0%. The typical loan made in this city has a term of 21 months. The average points charged on the loans is 2.9%. The average loan-to-value (LTV) for loans in Agate is 74%.
Loan Example 1
Jeff is an investor in Agate, ND. He discovers an older property for sale and wants to remodel it and flip it for a profit. The house has a cost of $370,000 but he does not have the full amount so he obtains a bridge loan with Red Oak Funding. The lender agrees to make a loan with a 65% loan to value (LTV) so they are willing to loan $240,500 on the project. The loan also includes these features: 1) a 18 month length, 2) a 13% interest only note, and 3) a three point origination fee.
The borrower must bring a total of $32,400 up front to pay the $129,500 down payment in addition to the $7,215 origination fee. After the loan is executed and Jeff takes on the property, he will need to begin making payments each month of $2,605 to the lender ($240,500 principle x 13% / 12 months). If Jeff sells the renovated project for $481,000 at the end of the 18 month term, his total profit (not accounting for remodeling expenses) would be $56,888. This is computed by taking the purchase price ($481,000) and subtracting the original note amount ($240,500), the origination fee ($7,215), the money he contributed to closing ($129,500), and the total interest payments ($46,898).
Loan Example 2
Uptown Lending makes a hard money bridge loan to Mary for a rehab project in Agate, ND. The loan includes the following:
a) A $190,000 sales price, b) a 65% loan to value (LTV), c) a 12 month term, d) a 14% interest rate, and e) a 3% origination fee.
If Mary succeeds in her goal of a $275,500 sales price, the final numbers of the deal would be as follows:
$275,500 sales price
- $123,500 loan principle (65% LTV)
- $66,500 cash paid at closing (35% on 65% LTV)
- $3,705 origination points (3% of the $123,500 principle amount)
- $17,290 total interest paid (12 months x 14% interest)
-----------------------
= $64,505 total profit (doesn't include taxes or rehab costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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Anchor Loans
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Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Patch Lending
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Sherman Oaks, CA 91403
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Secured Investment Lending
1485 International Parkway, Suite 1031
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Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
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Rapid Commercial Loans
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
We lend to all different kinds of real estate investors, whether you are an expert or a novice. We provide funding for building from the ground up, fix-and-flip projects, and a range of single- and multi-family rental loans. Start your ...
New Silver
2475 Albany Ave #203B
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REI Capital
5660 Strand Court
Naples, FL 34110
Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
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Lend Some Money
42 Thompson Street, Suite 1A
East Haven, CT 06513
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Primeau Funding
10575 N. 114th St. Suite 103
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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
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