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Bridge Loans in Fedora, South Dakota
Fedora, SD has 14 hard money bridge lenders offering loans within the city. The average amount for loans is $543,500. Rates on private loans made to Fedora investors average around 10.4%. The mean loan issued in this city has a term of 21 months. The mean origination fee for loans is 2.6 points. Lenders in Fedora average a 73% LTV on their deals.
Loan Example 1
Luis is an investor in Fedora, SD. He finds an older property and wants to remodel it and flip it for a profit. The property costs $200,000 but he doesn't have the full amount so he obtains a private money bridge loan with Success Finance Corporation. The terms of the deal include a 85% loan-to-value (LTV), so he must bring 15% of the price as cash at closing, which makes the principle note amount $170,000. The parameters of the loan also stipulate a two percent origination fee that will be paid at closing and a 18 month, interest-only note with a 14% rate of interest.
By the terms of the deal, Luis will have to pay a $3,400 origination fee in addition to 15% of the purchase price, or $30,000, based on the 85% LTV. he must then pay $1,983 monthly to Success Finance Corporation. At the end of the note, he sells the renovated property for $240,000. After deducting the $35,700 in interest payments ($1,983 multiplied times 18 months), the $3,400 origination fee, the $170,000 principle amount on the note, and the $30,000 he brought to closing, he will make a gross profit of $900 ($240,000 sales price minus $239,100 in costs). This amount would be reduced by any rehab costs paid by Luis.
Loan Example 2
Eric finds a duplex in Fedora, SD to rehab and resell. Because he does not have enough cash to buy the property outright, he takes a bridge loan from Top Notch Investment Group with the following parameters:
$370,000 purchase price
70% loan to value (LTV)
12 month term
8% interest rate
1% origination fee
If Eric achieves his goal of a $555,000 sales price, the numbers of the project will be the following:
$555,000 sales price
- $259,000 principle (70% LTV)
- $111,000 down payment (30% on 70% LTV)
- $2,590 origination points (1% of the $259,000 principle amount)
- $20,720 total interest paid (12 months x 8% interest)
-----------------------
= $161,690 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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