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Bridge Loans in Hayti, South Dakota
We found 16 results for hard money bridge lenders in Hayti, SD. In this city, the average loan amount is $431,250. The average rate for private loans in Hayti is 12.2%. The average loan issued in the city has a term of 29 months. The average loan includes a 3.1 point origination fee. 69% is the typical loan to value offered for for loans in Hayti.
Loan Example 1
Casey is an investor in Hayti, SD. He discovers a run-down property for sale and wants to rehab it and flip it for a profit. The property costs $250,000 but he does not have the full amount so he takes out a bridge loan with Uptown Funding. The terms of the deal include a 85% loan-to-value (LTV), so he must bring 15% of the price as cash at closing, making the principle loan amount $212,500. The loan is interest-only, with monthly payments, and is for 6 months at 13% interest with 4 origination points paid at closing.
The borrower will have to contribute a total of $32,400 up front to pay the $37,500 down payment plus the $8,500 origination fee. Once the deal closes, he will have to pay the lender $2,302 in monthly interest fees, or 13% times $212,500 divided by 12 months in the year. Casey's intention is to finish the rehab within the 6 months and sell it for $362,500. If he succeeds he will earn a profit of $90,188 ($362,500 sales price - $212,500 principle amount - $37,500 funds brough to closing - $8,500 origination fee - $13,813 in total interest payments.
Loan Example 2
Blue Sky Lending Company makes a private money bridge loan to Clarice for a rehab project in Hayti, SD. The loan dictates the following:
$260,000 sales price
85% loan-to-value (LTV)
6 month term
13% rate of interest
3% origination fee
If Clarice achieves her goal of a $364,000 sales price, the outcome of the project will be as follows:
$364,000 sales price
- $221,000 principle (85% LTV)
- $39,000 down payment (15% on 85% LTV)
- $6,630 origination points (3% of the $221,000 principle)
- $14,365 total interest paid (6 months x 13% interest)
-----------------------
= $83,005 total 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!
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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
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 ...
Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
Redmond, WA 98052
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
Scottsale, AZ 85259
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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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