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Bridge Loans in Huron, South Dakota
Huron, SD has 14 hard money bridge lenders offering loans within the city. Note amounts average around $445,000. Rates for private loans average 11.0%. The average loan made in this city has a length of 19 months. The mean loan includes a 3.7 point origination fee. Lenders typically offer a 70% loan-to-value on hard money loans in Huron.
Loan Example 1
Kent takes a private money bridge loan from East Star Funding Corporation in order to remodel a property to resale in Huron, SD. The sales price of the house is $380,000. As the lender sets a 65% loan-to-value, Kent will need to put 35% down and the principle amount of the loan will be $247,000. The rate on the loan is 8% for a length of 6 months and the company requires a four point origination fee at closing. The interest payments are to be paid monthly and the principle amount will be repaid after the sale of the property.
By the terms of the note, Kent will be required to pay a $9,880 origination fee in addition to 35% of the sales price, or $133,000, based on the 65% LTV. East Star Funding Corporation will collect $1,647 in monthly interest from the borrower. This is calculated by taking the full loan value of $247,000, multiplying by the 8% interest rate, and then dividing that number by 12. Kent's plan is to finish the remodel within the 6 months and sell it for $475,000. If he succeeds he will collect a profit of $75,240 ($475,000 sales price - $247,000 principle - $133,000 down payment - $9,880 origination fee - $9,880 in total interest payments.
Loan Example 2
Samuel is a real estate investor in Huron, SD. He buys a run-down property for a remodeling project and obtains a private money bridge loan from Redwood Finance with the following terms:
a) A $320,000 sales price, b) a 60% loan-to-value (LTV), c) a 6 month term, d) a 14% interest rate, and e) a 1% origination fee.
After the rehab project is finished, if Samuel sells the project for $416,000, the numbers would be the following:
$416,000 sales price
- $192,000 principle on note (60% LTV)
- $128,000 down payment (40% on 60% LTV)
- $1,920 origination points (1% of the $192,000 principle)
- $13,440 interest payments (6 months x 14% interest)
-----------------------
= $80,640 gross profit (does not include taxes or rehab costs)
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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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
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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
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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 ...
REI Capital
5660 Strand Court
Naples, FL 34110
Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
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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