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Bridge Loans in Baltic, South Dakota
A total of 16 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)
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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Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
With more than $21B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors (REIs). Kiavi harnesses the power of data & technology to offer REIs a simpler, more reliable, and faster way ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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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
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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 ...
Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
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Velocity Mortgage Capital is a wholesale, nationwide lender for asset-based, investment real estate, lending since 2004. We never look at the tax returns or personal income statements of our borrowers. Instead, our focus is the income producing potential of the ...
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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