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 Sioux Falls, South Dakota
Sioux Falls, SD has 16 hard money lenders issuing loans in the city. The median amount loaned in the city is $448,611. Interest rates on private loans issued to Sioux Falls investors average about 10.2%. The average length for notes is 26 months. A typical hard money loan issued in the city includes a 3.0 percent origination fee. Lenders typically offer a 76% loan-to-value (LTV) on hard money loans in Sioux Falls.
Loan Example 1
Debora takes a bridge loan from West Star Finance Company in order to renovate a duplex to flip in Sioux Falls, SD. The list price of the house is $310,000. The terms of the loan include a 80% loan to value (LTV), so she must contribute 20% of the price as cash at closing, making the principle loan amount $248,000. The interest rate on the note is 13% for a term of 6 months and the company requires a one point origination fee at the close. The interest payments are to be paid on a monthly basis and the principle will be returned after the sale of the property.
In addition to paying the $2,480 origination fee, Debora will also need to fund $62,000 of the purchase with her own funds, or 20% of the purchase price. she will then pay $2,687 per month to the lender. If Debora sells the house for $449,500 after 6 months, she would earn a gross profit of $120,900 after deducting the original principle of $248,000, the funds paid at the close of $62,000, the origination points of $2,480, and the aggregate interest payments of $16,120. This gross profit doesn't include remodeling costs.
Loan Example 2
Eduardo takes a private money bridge loan from Acme Lending in order to rehab a house to resell in Sioux Falls, SD. The loan has the following parameters:
a) A $250,000 sales price, b) a 80% loan-to-value (LTV), c) a 6 month term, d) a 14% interest rate, and e) a 3% origination fee.
If Eduardo succeeds in his goal of a $337,500 sales price, the outcome of the deal would be as follows:
$337,500 sales price
- $200,000 principle (80% LTV)
- $50,000 down payment (20% on 80% LTV)
- $6,000 origination fee (3% of the $200,000 principle)
- $14,000 interest payments (6 months x 14% interest)
-----------------------
= $67,500 gross profit (does not include taxes or rehab costs)
Nation’s fastest and easiest private real estate lender - Funding Fix and Flip, Ground-Up Construction, and DSCR. Closing as fast as 5 business days!
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, ...
"WE LEND YOU GROW" Xpress Loans 911 believes that your business should have ready access to working capital, just like big corporations do. So, we pair you with funders that focus on working with small and mid-sized businesses and are ...
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
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 ...
Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
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 ...
Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
Redmond, WA 98052
Velocity Mortgage Capital is a wholesale, nationwide lender for asset-based, investment real estate, lending since 2004. We never look at the tax returns or personal income statements of our borrowers. Instead, our focus is the income producing potential of the ...
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. ...
Your Information is Processing