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Bridge Loans in Warwick, North Dakota
Warwick, ND has 16 hard money bridge lenders serving the city. The median note amount is $381,875. Rates for loans average 11.9%. The median length for loans is 22 months. The mean origination for the loans is 4.2 percent. 69% is the typical loan-to-value (LTV) for offered by lenders in Warwick.
Loan Example 1
Katharine closes on a $340,000 rehab project in Warwick, ND, using a bridge loan from J & T Investment Corporation. The loan to value (LTV) on the loan is 65%. This means that Katharine will need to bring 35% of the purchase price to the closing and the principle amount will be $221,000 on the loan. The parameters of the loan also stipulate a one percent origination fee that will be paid at the closing and a 6 month, interest-only note with a 11% rate of interest.
The borrower will have to fund a total of $32,400 upon closing to cover the $119,000 down payment in addition to the $2,210 origination fee. The lender will collect $2,026 in monthly interest from the borrower. This is computed by taking the full note amount of $221,000, multiplying by the 11% rate of interest, and then dividing that amount by 12. Katharine's intention is to complete the project within the 6 months and sell it for $493,000. If she succeeds she will collect a gross profit of $138,635 ($493,000 sales price - $221,000 principle amount - $119,000 cash paid at closing - $2,210 origination fee - $12,155 in total interest.
Loan Example 2
Ray is a real estate investor in Warwick, ND. He finds a run-down house for a rehab project and takes out a hard money bridge loan from Oak Hill Investment Corporation with the following features:
a) A $350,000 sales price, b) a 70% loan-to-value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 2% origination fee.
After the renovation project is complete, if Ray sells the property for $437,500, the final numbers would be the following:
$437,500 sales price
- $245,000 loan principle (70% LTV)
- $105,000 down payment (30% on 70% LTV)
- $4,900 origination fee (2% of the $245,000 principle amount)
- $29,400 total interest paid (18 months x 8% interest)
-----------------------
= $53,200 gross profit (does not include taxes or rehab costs)
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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 ...
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
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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