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Bridge Loans in Chancellor, South Dakota
There are 16 results for private money bridge lenders offering loans in Chancellor, SD. The mean note amount is $332,813. The mean interest rate for private loans in Chancellor is 10.5%. The typical note issued in this city is for 29 months. The average note includes a 4.8 percent origination fee. The median LTV offered for loans in Chancellor is 72%.
Loan Example 1
South End Finance Group makes a bridge loan to Freda for a renovation project in Chancellor, SD, on a house that is listed for $170,000. The borrower will need to fund 30% of the sales price in cash to closing based on a 70% loan-to-value stipulated by the lending company. This makes the principle amount from South End Finance Group $119,000. The loan also includes the following features: 1) a 6 month term, 2) a 8% interest-only note, and 3) a five percent origination charge.
Accordingly, the borrower will have to contribute a $51,000 down payment in addition to paying a $5,950 origination fee. The monthly interest-only payments will then be $793 to South End Finance Group. If Freda sells the property for $255,000 after 6 months, she would earn a gross profit of $74,290 after deducting the principle of $119,000, the cash contributed at the close of $51,000, the origination points of $5,950, and the total interest payments of $4,760. This amount does not account for renovation costs.
Loan Example 2
Craig is a an investor in Chancellor, SD. He finds a run-down townhouse for a rehab project and obtains a hard money bridge loan from East Star Lending Group with the following paramters:
$210,000 purchase price
85% loan-to-value (LTV)
12 month term
12% rate of interest
3% origination fee
Once the renovation project is complete, if Craig sells the project for $283,500, the outcome would be as follows:
$283,500 sales price
- $178,500 principle on note (85% LTV)
- $31,500 down payment (15% on 85% LTV)
- $5,355 origination points (3% of the $178,500 principle)
- $21,420 interest payments (12 months x 12% interest)
-----------------------
= $46,725 gross 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!
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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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
Lake Mary, FL 32746
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Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
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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
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New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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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
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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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