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Bridge Loans in Goodwin, South Dakota
Goodwin, SD has 14 private money bridge lenders serving the city. In this city, the median amount for loans is $481,945. Rates on hard money loans issued to Goodwin borrowers average 10.4%. The typical loan made in the city is 20 months in length. A typical hard money loan made in this city includes a 3.2 percent origination charge. Lenders in Goodwin average a 71% LTV on their deals.
Loan Example 1
Urban Finance Group makes a private money bridge loan to Heather for a remodeling project in Goodwin, SD, on a house that costs $370,000. The terms of the deal include a 75% loan to value (LTV), so she must contribute 25% of the price as cash to closing, which makes the principle loan amount $277,500. The loan is interest-only, with monthly payments, and is for 6 months at 11% interest with 4 origination points to be paid when the deal closes.
On top of the $11,100 origination fee, Heather will also need to fund $92,500 of the purchase with her own funds, or 25% of the purchase price. Once the deal closes, she will pay the lender $2,544 in monthly interest payments, or 11% multiplied times $277,500 divided by 12 months in the year. If Heather meets her goal of a $536,500 sales price when the loan term expires, she would pocket a gross profit of $140,138 after re-paying the principle on the note and deducting the cash she brought to closing, the origination fee, and the total monthly interest payments.
Loan Example 2
Frank is a an investor in Goodwin, SD. He purchases an older house for a rehab project and takes a private money bridge loan from Easy Brook Funding Company with the following terms:
$170,000 sales price
80% loan-to-value (LTV)
12 month term
8% rate of interest
4% origination fee
Assuming a $221,000 sales price after the 12 month term, the numbers for this deal would look like the following:
$221,000 sales price
- $136,000 principle (80% LTV)
- $34,000 down payment (20% on 80% LTV)
- $5,440 origination fee (4% of the $136,000 principle)
- $10,880 total interest paid (12 months x 8% interest)
-----------------------
= $34,680 total profit (does not 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 ...
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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