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Bridge Loans in South Shore, South Dakota
We found 16 results for private money bridge lenders in South Shore, SD. The average loan issued is about $352,500. The average interest rate for private loans in South Shore is 10.8%. The typical loan made in this city has a length of 21 months. The average loan includes a 3.8 point origination charge. The median loan to value for loans in South Shore is 71%.
Loan Example 1
Monique finds a property in South Shore, SD to rehab and sell. Since she does not have enough cash on-hand to purchase the $160,000 project outright, she decides to take out a hard money bridge loan from South Star Funding. Since the lender agrees to a 80% loan-to-value, Monique will need to put 20% down and the total amount of the note will be $128,000. The note is interest only, with monthly payments, and is for 12 months at 12% interest with 5 origination points paid when the deal closes.
On top of the $6,400 origination fee, Monique will also have to fund $32,000 of the purchase with her own money, or 20% of the sales price. Once the loan closes, she will pay South Star Funding $1,280 in monthly interest fees, or 12% times $128,000 divided by 12 months in a year. If she sells the rehabed project for $232,000 at the end of the 12 month term, her total profit (not including rehab costs) would be $50,240. This is calculated by taking the purchase price ($232,000) and subtracting the principle ($128,000), the origination fee ($6,400), the cash she contributed to closing ($32,000), and the total interest payments ($15,360).
Loan Example 2
Dynamic Finance Group issues a hard money bridge loan to Nola for a rehab project in South Shore, SD. The loan includes the following:
a) A $370,000 sales price, b) a 75% loan-to-value (LTV), c) a 18 month term, d) a 12% interest rate, and e) a 4% origination fee.
Based on a $499,500 sales price at the end of the 18 month term, the numbers for this project would look like this:
$499,500 sales price
- $277,500 loan principle (75% LTV)
- $92,500 down payment (25% on 75% LTV)
- $11,100 origination fee (4% of the $277,500 principle amount)
- $49,950 interest payments (18 months x 12% interest)
-----------------------
= $68,450 total profit (doesn't include taxes or renovation 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
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Center Street Lending
18201 Von Karman, Suite 400
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Stratton Equities
28 Bloomfield Avenue
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Flip N Fast Loans
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New Silver
2475 Albany Ave #203B
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Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
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Gokapital Mortgage
2150 Coral Way | Suite 1A
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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
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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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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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