Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels.
Refinance / Cash Out Loans in North Springfield, Vermont
North Springfield, VT has 20 private money lenders serving the city. In this city, the median loan amount is $363,215. The median interest rate for loans in North Springfield is 10.0%. The median term for notes is 54 months. The average hard money loan issued in the city carries a 2.8 percent origination cost. Lenders offer on average a 73% loan-to-value on deals in North Springfield.
Loan Example 1
Allan operates a business in North Springfield, VT. He runs his operation out of a retail space that he owns in full. He decides he requires some funding for his company's operation but he's denied by his credit union for a cash-out refinancing, so he looks to North Side Investment Company for a private money loan. The lender does a valuation analysis and conculdes the property is worth about $1,200,000. They decide to loan Allan 40% of the estimated value (the LTV). The lender will begin to receive interest-only payments for a 3 year term. They will also subtract 2 points at the closing and will get the principle paid back in one balloon payment when the loan matures. Allan receives $470,400 in cash from North Side Investment Company when the deal closes ($1,200,000 value x 40% loan-to-value - $9,600 in origination charges). He will then make payments each month of $4,000 for the 3 year term of the loan. He will then make a final payment of $480,000 to close the debt.
Loan Example 2
Sam owns a an office building for his business operations in North Springfield, VT. He looks to South Shore Finance Company for a cash out refinancing after he is rejected for a loan by his local bank for his company's future inventory requirements. After determining the building to be worth approximately $2,200,000, they contract to a 45% loan-to-value (LTV) on the deal. They also settle on a 11% rate of interest, a 1 year loan term, and will charge an origination fee of 3 points at the closing. Interest-only payments are to be paid each month with the loan principle paid back when the loan matures. By the stipulations of this loan, South Shore Finance Company will give Sam a sum of $960,300 on his real estate ($2,200,000 market value x 45% loan to value - $29,700 in origination charges). Sam will then pay $9,075 per month in interest until the loan expires and will then re-pay the $990,000 face amount on the loan.
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Stratton Equities
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Stormfield Capital
35 Old Post Road
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Dominion Financial
32 S Street
Baltimore, MD 21202
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
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Peak Choice Capital
601 Silver Creek Drive
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Roc Capital
645 Madison Ave
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AMUSA Commercial Capital
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42 Thompson Street, Suite 1A
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Finance of America Commercial
4201 Congress Street, Suite 475
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20 West Vine Street #575
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9465 Counselors Way, Suite 200
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