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Bridge Loans in Letcher, South Dakota
We found 14 results for private money bridge lenders serving Letcher, SD. The median loan amount in this city is $550,000. Rates on hard money loans made to Letcher borrowers average 10.9%. 29 months is the median length for loans issued in the city. The mean origination for loans is 2.7 percent. Lenders offer on average a 71% loan to value on hard money loans in Letcher.
Loan Example 1
Jeannie takes a bridge loan from East Shore Investments in order to renovate a property to resale in Letcher, SD. The list price of the house is $210,000. Because the lender agrees to a 55% loan-to-value, Jeannie will need to put 45% down and the total amount of the note will be $115,500. The terms of the note also include a three point origination fee which will be paid at closing and a 18 month, interest only note with a 8% interest rate.
In addition to paying the $3,465 origination fee, Jeannie will also need to fund $94,500 of the purchase with her own cash, or 45% of the sales price. The monthly interest-only payments will then be $770 to East Shore Investments. If Jeannie sells the project for $262,500 after 18 months, she would realize a gross profit of $35,175 after deducting the principle of $115,500, the money paid at closing of $94,500, the origination points of $3,465, and the aggregate interest payments of $13,860. This amount does not include remodeling costs.
Loan Example 2
Sabrina locates a townhouse in Letcher, SD to renovate and re-sell. Since she does not have enough cash to buy the property outright, she takes a private money bridge loan from Rolling Brook Lending with the following parameters:
$280,000 purchase price
50% loan-to-value (LTV)
6 month term
9% interest rate
4% origination fee
After the rehab project is finished, if Sabrina sells the house for $378,000, the outcome would be the following:
$378,000 sales price
- $140,000 principle (50% LTV)
- $140,000 cash paid at closing (50% on 50% LTV)
- $5,600 origination fee (4% of the $140,000 principle amount)
- $6,300 total interest paid (6 months x 9% interest)
-----------------------
= $86,100 gross profit (doesn't include taxes or renovation 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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