With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Bridge Loans in Minot Afb, North Dakota
Minot Afb, ND has 18 private money bridge lenders operating in the city. Loan amounts average about $396,875. The average interest rate for hard money loans in Minot Afb is 11.1%. 18 months is the average length for loans issued in the city. The mean origination fee for loans is 4.4 points. Lenders offer on average a 70% loan-to-value (LTV) on hard money loans in Minot Afb.
Loan Example 1
Alex is a real estate investor in Minot Afb, ND. He locates an older property for sale and wants to remodel it and sell it for a profit. The house has a cost of $320,000 but he doesn't have the full amount so he takes out a private money bridge loan with Frontera Funding. The terms of the deal include a 80% loan to value (LTV), so he must bring 20% of the price as cash to closing, making the principle note amount $256,000. The loan is interest only, with monthly payments, and is for 18 months at 10% interest with 4 origination points paid when the deal closes.
Therefore, Alex will have to contribute a $64,000 down payment plus pay a $10,240 origination fee. he must then pay $2,133 monthly to the lender. If he sells the remodeled house for $384,000 at the end of the 18 month term, his total profit (not including rehab expenses) would be $15,360. This is calculated by taking the sales price ($384,000) and subtracting the original note amount ($256,000), the origination cost ($10,240), the money he contributed to closing ($64,000), and the total interest payments ($38,400).
Loan Example 2
Alvin finds a house in Minot Afb, ND to rehab and re-sell. Because he does not have enough cash to buy the property outright, he takes a hard money bridge loan from Johnson Investment Corporation with the following parameters:
a) A $380,000 sales price, b) a 60% loan-to-value (LTV), c) a 18 month term, d) a 12% interest rate, and e) a 2% origination fee.
Once the rehab project is complete, if Alvin sells the property for $456,000, the outcome would be the following:
$456,000 sales price
- $228,000 principle on note (60% LTV)
- $152,000 cash paid at closing (40% on 60% LTV)
- $4,560 origination fee (2% of the $228,000 principle)
- $41,040 total interest paid (18 months x 12% interest)
-----------------------
= $30,400 total profit (doesn't include taxes or rehab costs)
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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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Anchor Loans
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Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Patch Lending
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Sherman Oaks, CA 91403
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Secured Investment Lending
1485 International Parkway, Suite 1031
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Center Street Lending
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Irvine, CA 92612
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Rapid Commercial Loans
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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
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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
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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
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Gokapital Mortgage
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Miami, FL 33145
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Lend Some Money
42 Thompson Street, Suite 1A
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Primeau Funding
10575 N. 114th St. Suite 103
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Edward Voccola & Co
75 Arlington Street, Suite 500
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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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