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 Donnybrook, North Dakota
Donnybrook, ND has 18 private money lenders issuing loans in the city. The median loan made to borrowers is around $471,429. Interest rates for private loans average around 11.5%. The mean term offered for loans is 30 months. The average loan includes a 2.2 percent origination charge. Lenders offer on average a 75% loan-to-value (LTV) on loans in Donnybrook.
Loan Example 1
BCC Investment Company issues a private money bridge loan to Milton for a renovation project in Donnybrook, ND, on a property that costs $270,000. The terms of the deal include a 80% loan to value (LTV), so he must contribute 20% of the price as cash to closing, which makes the principle loan amount $216,000. The interest rate on the loan is 9% for a length of 12 months and the company requires a one point origination fee at the closing. The interest is to be paid monthly and the principle will be paid back after the property sells.
Milton will need to bring a total of $32,400 upon closing to cover the $54,000 down payment plus the $2,160 origination fee. Once the deal is executed and Milton takes on the project, he will have to begin making payments each month of $1,620 to the lender ($216,000 principle x 9% / 12 months). If Milton sells the property for $364,500 after 12 months, he would then earn a gross profit of $72,900 after subtracting the principle of $216,000, the money contributed at the close of $54,000, the origination points of $2,160, and the total interest payments of $19,440. This profit does not account for remodeling costs.
Loan Example 2
Green Square Investment Group issues a hard money bridge loan to Rachelle for a renovation project in Donnybrook, ND. The deal dictates the following:
$380,000 sales price
70% loan-to-value (LTV)
18 month term
9% rate of interest
5% origination fee
If Rachelle achieves her goal of a $570,000 sales price, the outcome of the deal will be the following:
$570,000 sales price
- $266,000 principle on note (70% LTV)
- $114,000 cash paid at closing (30% on 70% LTV)
- $13,300 origination points (5% of the $266,000 principle)
- $35,910 total interest paid (18 months x 9% interest)
-----------------------
= $140,790 total profit (doesn't include taxes or rehab costs)
Nation’s fastest and easiest private real estate lender - Funding Fix and Flip, Ground-Up Construction, and DSCR. Closing as fast as 5 business days!
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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Anchor Loans
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Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Center Street Lending
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Rapid Commercial Loans
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Stratton Equities
28 Bloomfield Avenue
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Flip N Fast Loans
4445 Corporation Ln Suite 264
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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
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REI Capital
5660 Strand Court
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Lend Some Money
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Primeau Funding
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11 Capital Finance
20 West Vine Street #575
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