With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Bridge Loans in Chester, South Dakota
Chester, SD has 14 hard money bridge lenders offering loans within the city. The mean amount loaned in this city is $443,750. Rates for hard money loans average around 10.1%. The median loan issued in this city has a length of 23 months. The mean loan includes a 2.4 percent origination charge. The average loan to value (LTV) for loans in Chester is 73%.
Loan Example 1
Aida closes on a $340,000 rehab project in Chester, SD, using a private money bridge loan from West Side Investments. The loan to value (LTV) on the deal is 85%. This means Aida will have to bring 15% of the sales price to the closing and the principle will be $289,000 on the loan. The loan is interest-only, paid monthly, and is for 12 months at 8% interest with 3 origination points to be paid when the deal closes.
Aida will need to contribute $51,000 to closing (15% on the 85% loan to value), plus she will have to pay the $8,670 origination fee. The lender will collect $1,927 in monthly interest from the Aida. This is computed by taking the total loan amount of $289,000, multiplying by the 8% rate of interest, and then dividing that number by 12. Aida's plan is to finish the house within the 12 months and resell it for $476,000. If she succeeds she will collect a gross profit of $104,210 ($476,000 price - $289,000 principle - $51,000 cash at closing - $8,670 origination fee - $23,120 in interest.
Loan Example 2
Leonard locates a duplex in Chester, SD to renovate and resell. Since he does not have enough cash to buy the property outright, he takes a hard money bridge loan from West Side Lending Company with the following parameters:
a) A $370,000 purchase price, b) a 50% loan to value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 2% origination fee.
Leonard intends to sell the property when the note expires for $499,500. If he achieves this goal, the outcome would be the following:
$499,500 sales price
- $185,000 principle on note (50% LTV)
- $185,000 cash paid at closing (50% on 50% LTV)
- $3,700 origination points (2% of the $185,000 principle)
- $30,525 total interest paid (18 months x 11% interest)
-----------------------
= $95,275 gross profit (does not include taxes or rehab 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, ...
"WE LEND YOU GROW" Xpress Loans 911 believes that your business should have ready access to working capital, just like big corporations do. So, we pair you with funders that focus on working with small and mid-sized businesses and are ...
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. ...
Your Information is Processing