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Bridge Loans in Aurora, South Dakota
We found 16 results for hard money bridge lenders in Aurora, SD. In this city, the median loan amount is $436,250. The median interest rate for hard money loans in Aurora is 10.4%. 23 months is the median term for loans issued in this city. The average origination fee charged for the loans is 2.8%. Lenders typically offer a 72% LTV on hard money loans in Aurora.
Loan Example 1
Darren is a house flipper in Aurora, SD. He discovers an older property for sale and decides to remodel it and flip it for a profit. The property has a cost of $340,000 but he does not have the full amount so he obtains a private money bridge loan with Green Square Investment Corporation. The terms of the deal include a 75% loan to value (LTV), so he must contribute 25% of the price as cash to closing, making the principle note amount $255,000. The deal also consists of these features: 1) a 12 month term, 2) a 8% interest only note, and 3) a one percent origination fee.
According to the terms of the deal, Darren will have to pay a $2,550 origination fee in addition to 25% of the sales price, or $85,000, based on the 75% LTV. Green Square Investment Corporation will collect $1,700 in monthly interest payments from the Darren. This is calculated by taking the full loan value of $255,000, multiplying by the 8% rate of interest, and then dividing that number by 12. Darren's intention is to complete the house by the end of the 12 months and sell it for $425,000. If he succeeds he will earn a total profit of $62,050 ($425,000 price - $255,000 principle - $85,000 funds brough to closing - $2,550 origination points - $20,400 in interest.
Loan Example 2
Brook View Investment Group issues a bridge loan to Elise for a remodeling project in Aurora, SD. The loan includes the following:
$150,000 sales price
65% loan to value (LTV)
18 month term
8% rate of interest
1% origination fee
After the rehab project is completed, if Elise sells the project for $195,000, the outcome would be the following:
$195,000 sales price
- $97,500 principle (65% LTV)
- $52,500 down payment (35% on 65% LTV)
- $975 origination points (1% of the $97,500 principle amount)
- $11,700 total interest paid (18 months x 8% interest)
-----------------------
= $32,325 gross profit (does not include taxes or rehab 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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1485 International Parkway, Suite 1031
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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
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
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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
Scottsale, AZ 85259
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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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