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Bridge Loans in Artesian, South Dakota
There are 14 lenders operating in Artesian, SD. In this city, the mean amount loaned is $372,917. Rates on private loans issued to Artesian investors average around 10.1%. 23 months is the mean length for loans offered in the city. The mean note includes a 3.1 point origination charge. 75% is the median loan to value (LTV) for for loans in Artesian.
Loan Example 1
Gail finds a house in Artesian, SD to renovate and sell. Since she doesn't have enough cash available to purchase the $290,000 project outright, she decides to take out a hard money bridge loan from South Side Funding Corporation. The lender agrees to write a note with a 50% loan to value (LTV) so they will loan $145,000 on the house. The terms of the loan also stipulate a four percent origination fee that will be paid at closing and a 12 month, interest-only note with a 14% rate of interest.
On top of the $5,800 origination fee, Gail will also fund $145,000 of the purchase with her own money, or 50% of the sales price. Once the loan closes, she will need to pay the lender $1,692 in monthly interest fees, or 14% times $145,000 divided by 12 months in a year. Gail's plan is to finish the house by the end of the 12 months and sell it for $420,500. If she succeeds she will earn a total profit of $104,400 ($420,500 price - $145,000 principle - $145,000 funds brough to closing - $5,800 origination fee - $20,300 in total interest payments.
Loan Example 2
Brent is a an investor in Artesian, SD. He purchases a run-down property for a remodeling project and obtains a private money bridge loan from Big Lake Lending Group with the following terms:
$180,000 sales price
50% loan to value (LTV)
6 month term
12% rate of interest
3% origination fee
If Brent accomplishes his goal of a $270,000 sales price, the final numbers of the project will be as follows:
$270,000 sales price
- $90,000 principle on note (50% LTV)
- $90,000 down payment (50% on 50% LTV)
- $2,700 origination points (3% of the $90,000 principle amount)
- $5,400 total interest paid (6 months x 12% interest)
-----------------------
= $81,900 total profit (does not include taxes or renovation costs)
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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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
Stratton Equities is the Leading Nationwide Direct Private Money & NON-QM Mortgage Lender that specializes in fast and flexible lending processes. We have the largest library of private money and NON-QM nationwide loan programs under one roof. Our team is ...
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
West Hartford, CT 06117
New Silver is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get ...
REI Capital
5660 Strand Court
Naples, FL 34110
REI Niche Programs - CA NO appraisal 1st position loans - 65% LTV; 2nd position loans - 60% CLTV, NO minimum FICO, Defaults, foreclosure bail-outs, and bankruptcies OK, 6 mo prepay, cross multiple properties, Rural lower LTVs on a case-by-case ...
Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
Gokapital, Inc. is a Miami, FL based private lender who provides funding all throughout the US.Providing lending solutions for a variety of situations, including loans for rental properties, cash out, hard money loans, fix-and-flip loans, hard money loans for commercial ...
Lend Some Money
42 Thompson Street, Suite 1A
East Haven, CT 06513
Lend Some Money is a national private lender that makes hard money commercial loans for the refinance or purchase of non-owner-occupied residential and mixed-use commercial properties. Its industry-leading technology platform allows it to provide real estate investors and brokers ...
Primeau Funding
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...
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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