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Bridge Loans in Montpelier, North Dakota
Montpelier, ND has 16 private money lenders operating in the city. The median amount loaned in the city is $406,945. Interest rates on loans made to Montpelier borrowers average 8.8%. The median term for notes is 28 months. The average loan includes a 1.2 percent origination cost. Lenders in Montpelier average a 74% loan-to-value on their deals.
Loan Example 1
Willa closes on a $180,000 renovation project in Montpelier, ND, using a private money bridge loan from Rolling Brook Investment Group. The borrower will be required to fund 30% of the sales price in cash to the closing based on a 70% loan-to-value set by the lending company. This makes the principle amount from Rolling Brook Investment Group $126,000. The deal also consists of the following features: 1) a 18 month length, 2) a 11% interest-only note, and 3) a five percent origination charge.
Therefore, Willa will need to make a $54,000 down payment plus pay a $6,300 origination fee. The lender will collect $1,155 in monthly interest payments from the Willa. This is computed by taking the total note value of $126,000, multiplying by the 11% interest rate, and then dividing that amount by 12. At the end of the note, she sells the rehabed house for $261,000. After deducting the $20,790 in interest payments ($1,155 multiplied by 18 months), the $6,300 origination fee, the $126,000 principle amount on the note, and the $54,000 she contributed to the closing, she will make a total profit of $53,910 ($261,000 sales price minus $207,090 in total costs). This amount would then be reduced by any rehab costs paid by the borrow.
Loan Example 2
Boom Lending Corporation makes a bridge loan to Melisa for a remodeling project in Montpelier, ND. The loan includes the following:
$380,000 purchase price
70% loan to value (LTV)
6 month term
8% interest rate
2% origination fee
If Melisa achieves her goal of a $551,000 sales price, the numbers of the deal will be the following:
$551,000 sales price
- $266,000 principle on note (70% LTV)
- $114,000 down payment (30% on 70% LTV)
- $5,320 origination points (2% of the $266,000 principle)
- $10,640 interest payments (6 months x 8% interest)
-----------------------
= $155,040 total profit (doesn't include taxes or renovation 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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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
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 ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
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 ...
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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