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Bridge Loans in Baltic, South Dakota
A total of 14 search results for private money bridge lenders were found in Baltic, SD. The median note issued to borrowers is around $566,072. Interest rates for hard money loans average around 11.0%. 20 months is the median length for loans offered in this city. The average hard money loan issued in this city carries a 4.0 point origination charge. The median loan to value offered for loans in Baltic is 71%.
Loan Example 1
Pretty Perfect Lending issues a hard money bridge loan to Ian for a renovation project in Baltic, SD, on a property that costs $220,000. The loan to value (LTV) on the deal is 60%. This means that Ian will have to bring 40% of the purchase price to the closing and the principle will be $132,000 on the loan. The terms of the loan also include a one point origination fee that will be paid at the closing and a 6 month, interest only note with a 13% interest rate.
Accordingly, the borrower will need to make a $88,000 down payment plus pay a $1,320 origination fee. he will then pay $1,430 monthly to the lender. At the end of the note, he sells the renovated property for $319,000. After deducting the $8,580 in interest payments ($1,430 multiplied by 6 months), the $1,320 origination fee, the $132,000 principle on the note, and the $88,000 he contributed to the closing, he will earn a total profit of $89,100 ($319,000 sales price minus $229,900 in costs). This profit would be reduced by any building costs paid out of pocket.
Loan Example 2
Blanca is a an investor in Baltic, SD. She locates an older property for a renovation project and obtains a bridge loan from Downtown Investment Company with the following features:
$180,000 purchase price
70% loan-to-value (LTV)
18 month term
11% rate of interest
4% origination fee
Once the renovation project is finished, if Blanca sells the property for $234,000, the numbers would be as follows:
$234,000 sales price
- $126,000 loan principle (70% LTV)
- $54,000 down payment (30% on 70% LTV)
- $5,040 origination points (4% of the $126,000 principle amount)
- $20,790 interest payments (18 months x 11% interest)
-----------------------
= $28,170 gross profit (doesn't include taxes or rehab costs)
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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 ...
Roc Capital
645 Madison Ave
New York City, NY 10022
Headquartered in New York, NY, Roc Capital is a lender offering loans all across the United States. They offer fix-and-flip loans, private refinancing, bridge loans, and commercial loans. Their loan guidelines are flexible, including rates starting at 7.49% , loan ...
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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