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Refinance / Cash Out Loans in Rapid City, South Dakota
Rapid City, SD has 17 private money lenders operating in the city. The average amount loaned in this city is $575,000. The average interest rate for private loans in Rapid City is 8.7%. 22 months is the average term for notes issued in the city. The mean origination fee for the loans is 2.1 percent. 76% is the average LTV for offered by lenders in Rapid City.
Loan Example 1
Joe owns and operates a company in Rapid City, SD. He runs his operations out of an industrial building that he owns in full. He decides he requires some funds for his business operations but he is rejected by his bank for a cash-out refinance loan, so he goes to Red Oak Lending Corporation for a private money loan. The lender will fund 45% of the value of the real estate (LTV) in exchange for a deed of trust and they conclude the building to be valued at about $1,800,000. The lender will deduct 3 origination points at closing and then be paid interest only payments at 14% for 3 years. The principle is to be repaid in one balloon sum when the loan expires. Joe will receive $785,700 in cash from Red Oak Lending Corporation when the transaction is closed ($1,800,000 value x 45% loan to value - $24,300 in origination fees). He will then begin making monthly payments in the amount of $9,450 for the 3 year duration of the loan. He will then make one final payment of $810,000 to close the debt.
Loan Example 2
Clayton owns a a warehouse for his business operations in Rapid City, SD. He comes to an arrangement with his partner to purchase their piece of the operation but he does not have the personal funds for the deal. In order to make the deal happen, he takes money from the equity he has in the property through a hard money cash-out refinance from Smith Investment Corporation. The lender does a market analysis and decides the building is worth around $500,000. They agree to loan Clayton 45% of the estimated value (the LTV). The other specifications of the loan are as follows : 1) a 9% rate of interest, 2) a 1 year length with interest only payments made monthly, and 3) 2 points paid at closing. The principle will be $225,000 but Smith Investment Corporation will pay Clayton $220,500 after subtracting the origination fee of $4,500. They will also receive $1,688 in monthly interest until they are repaid when the loan matures.
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
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 ...
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 ...
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 ...
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 ...
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 ...
Creative Hard Money LLC
508 Whitehorse Mercerville Rd
Hamilton, NJ 08610
Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States. They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...
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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