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Refinance / Cash Out Loans in Mitchell, South Dakota
There are 15 private money lenders serving Mitchell, SD. The average loan amount in this city is $452,813. Interest rates for hard money loans average about 10.4%. The typical loan made in this city is for 28 months. The average origination fee charged on the loans is 2.3%. The median loan-to-value offered for loans in Mitchell is 71%.
Loan Example 1
Gregory is a small business owner in Mitchell, SD and he owns an industrial building he uses for his operation. He decides he needs funds for his business operation but he is denied by his credit union for a cash out refinance loan, so he looks to Friendly Lending Corporation for a private money refinance. The lender agrees to fund 40% of the market value of the real estate (LTV) in exchange for a deed of trust and they decide the building to be valued at approximately $2,700,000. Additionally, they agree to a 11% interest rate, a 2 year loan period, and will collect an origination fee of 1 points at the close. Interest only payments should be paid monthly with the principle to be re-paid when the loan expires. By the stipulations of this loan, Friendly Lending Corporation will give Gregory a sum of $1,069,200 on his building ($2,700,000 estimated market value x 40% loan-to-value - $10,800 in origination points). Gregory will pay $9,900 monthly in interest fees until the loan matures and will then pay back the $1,080,000 principle of the loan.
Loan Example 2
Lindsey owns a a warehouse she uses for her business's operations in Mitchell, SD. In order to raise much needed funds to grow her company, she cashes out some of the equity in her building through a hard money cash-out refinancing from City Finance Group. After deeming the building to be worth around $800,000, the lender contracts to a 70% loan-to-value (LTV) on the loan. Additionally, they specify a 10% rate of interest, a 2 year loan term, and will collect an origination fee of 1 percent at the closing. Interest-only payments should be made each month with the loan principle paid back when the loan expires. Lindsey receives $554,400 in cash from City Finance Group when the transaction is executed ($800,000 value x 70% LTV - $5,600 in origination points). She will then begin making payments each month of $4,667 for the 2 year length of the loan. She will also make a final balloon payment of $560,000 to retire the debt.
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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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 ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
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 ...
Figure.com
650 California Street, Suite 2700
San Francisco, CA 94108
At Figure, we're transforming home equity by creating a faster, simpler and more transparent way to meet your financial goals. Learn how to use the equity in your home to consolidate debt, pay for home improvement, or fund your goals. ...
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
REI Niche Programs - CA NO appraisal 1st position loans - 65% LTV; 2nd position loans - 60% CLTV, NO minimum FICO, Defaults, foreclosure bail-outs, and bankruptcies OK, 6 mo prepay, cross multiple properties, Rural lower LTVs on a case-by-case ...
AMUSA Commercial Capital
301 Commerce Street Ste. 1420
Fort Worth, TX 76102
AMUSA Commercial Capital is a Dallas, TX based private money lender. They provide funding throughout the country. Their lending focus is mainly on non-bankable commercial real estate loans and Investment 1 to 4 loans. Their loan guidelines are flexible, including ...
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 ...
ICS Loans
1546 NW 56th Street
Seattle, WA 98107
Headquartered in Seattle, WA, ICS Loans is a private lender providing loans across the US. They provide loans for many different situations and needs, including hard money bridge loans, cash out hard money loans, hard money loans for commercial ...
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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