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Bridge Loans in Fingal, North Dakota
Fingal, ND has 16 private money lenders operating in the city. The mean note made is approximately $731,250. Rates on hard money loans made to Fingal borrowers average around 11.2%. 15 months is the mean term for notes issued in the city. The mean origination fee added to the loans is 8.0%. 75% is the median loan-to-value for offered by lenders in Fingal.
Loan Example 1
Darren is a house flipper in Fingal, ND. He discovers an older property for sale and decides to remodel it and flip it for a profit. The property has a cost of $340,000 but he does not have the full amount so he obtains a private money bridge loan with Green Square Investment Corporation. The terms of the deal include a 75% loan to value (LTV), so he must contribute 25% of the price as cash to closing, making the principle note amount $255,000. The deal also consists of these features: 1) a 12 month term, 2) a 8% interest only note, and 3) a one percent origination fee.
According to the terms of the deal, Darren will have to pay a $2,550 origination fee in addition to 25% of the sales price, or $85,000, based on the 75% LTV. Green Square Investment Corporation will collect $1,700 in monthly interest payments from the Darren. This is calculated by taking the full loan value of $255,000, multiplying by the 8% rate of interest, and then dividing that number by 12. Darren's intention is to complete the house by the end of the 12 months and sell it for $425,000. If he succeeds he will earn a total profit of $62,050 ($425,000 price - $255,000 principle - $85,000 funds brough to closing - $2,550 origination points - $20,400 in interest.
Loan Example 2
Cheri is a real estate investor in Fingal, ND. She finds a run-down house for a remodeling project and obtains a bridge loan from South Side Finance Group with the following terms:
$360,000 purchase price
60% loan to value (LTV)
18 month term
10% rate of interest
5% origination fee
Cheri plans to list the house at the end of the term for $486,000. If she achieves this goal, the outcome will be the following:
$486,000 sales price
- $216,000 note principle (60% LTV)
- $144,000 down payment (40% on 60% LTV)
- $10,800 origination fee (5% of the $216,000 principle)
- $32,400 interest payments (18 months x 10% interest)
-----------------------
= $82,800 total profit (does not include taxes or renovation costs)
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
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 ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
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 ...
REI Capital
5660 Strand Court
Naples, FL 34110
REI Niche Programs - CA NO appraisal 1st position loans - 65% LTV; 2nd position loans - 60% CLTV, NO minimum FICO, Defaults, foreclosure bail-outs, and bankruptcies OK, 6 mo prepay, cross multiple properties, Rural lower LTVs on a case-by-case ...
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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