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Bridge Loans in Colman, South Dakota
We found 14 results for private money bridge lenders operating in Colman, SD. The average note amount is $373,889. Interest rates on hard money loans made to Colman investors average 10.6%. The mean length offered for notes is 21 months. The mean points charged for the loans is 3.2%. 72% is the typical loan-to-value (LTV) offered for offered by lenders in Colman.
Loan Example 1
Lana is an investor in Colman, SD. She finds a run-down property for sale and wants to rehab it and flip it for a profit. The property has a cost of $250,000 but she does not have the full amount so she obtains a hard money bridge loan with South Star Finance. Because the lender agrees to a 75% loan-to-value, Lana will need to put 25% down so the amount of the note will be $187,500. The terms of the loan dictate a 13% note for 12 months. They also stipulate a 3 point origination fee, that will also have to be paid when the property closes.
In accordance with the terms of the note, Lana will be required to contribute a $5,625 origination fee plus 25% of the sales price, or $62,500, since there is a 75% LTV. After the deal is closed and Lana takes on the project, she will begin making monthly payments of $2,031 to South Star Finance ($187,500 principle x 13% / 12 months). If she sells the renovated project for $312,500 at the end of the 12 month term, her total profit (not including remodeling expenses) would be $32,500. This is calculated by taking the sales price ($312,500) and subtracting the original note amount ($187,500), the origination fee ($5,625), the money she contributed to closing ($62,500), and the total interest payments ($24,375).
Loan Example 2
West Shore Lending makes a private money bridge loan to Susana for a renovation project in Colman, SD. The deal dictates the following:
a) A $320,000 sales price, b) a 60% loan to value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 2% origination fee.
Based on a $464,000 sales price after the 18 month term, the numbers for the deal would look like this:
$464,000 sales price
- $192,000 principle on note (60% LTV)
- $128,000 cash paid at closing (40% on 60% LTV)
- $3,840 origination fee (2% of the $192,000 principle amount)
- $31,680 interest payments (18 months x 11% interest)
-----------------------
= $108,480 gross profit (does not include taxes or renovation 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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