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Refinance / Cash Out Loans in St Albans, Vermont
Saint Albans, VT has 20 hard money lenders serving the city. The median amount for loans in this city is $326,459. The median interest rate for loans in Saint Albans is 9.6%. The typical length offered for loans is 39 months. The mean loan includes a 2.6 percent origination fee. The average loan to value offered for loans in Saint Albans is 75%.
Loan Example 1
Gary owns a a retail space for his company's operations in Saint Albans, VT. He turns to Progressive Lending Company for a cash-out refinance loan after he is refused a loan by his local bank for his business's future operational requirements. In exchange for a first lien position on the real estate, the lender agrees to fund Gary 50% of its $600,000 estimated value. Additionally, they stipulate a 13% rate of interest, a 1 year note term, and will collect an origination fee of 5 percent at closing. Interest only payments should be paid each month with the principle to be repaid when the note matures. Based upon the terms of this deal, Progressive Lending Company will loan Gary a sum of $285,000 on his real estate ($600,000 market value x 50% loan to value - $15,000 in origination charges). Gary will then pay $3,250 monthly in interest fees until the note expires and will finally re-pay the $300,000 principle amount on the note.
Loan Example 2
Sarah owns a a retail space she uses for her business operations in Saint Albans, VT. She decides she needs funding for her business operations but she's rejected by her bank for a cash-out refinance, so she goes to Rehabbers Funding Company for a hard money refinance. In exchange for a first position equity stake on the property, the lender agrees to fund Sarah 40% of its $800,000 estimated market value. The lender will start collecting interest only payments for a 4 year term. They will also be paid 2 points at the close and will get the principle paid back in one balloon payment when the loan matures. By the terms of this deal, Rehabbers Funding Company will give Sarah a sum of $313,600 on her property ($800,000 market value x 40% LTV - $6,400 in origination charges). Sarah will pay $2,667 per month in interest fees until the loan expires and will then return the $320,000 principle of the loan.
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28 Bloomfield Avenue
Pine Brook, NJ 07058
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Stormfield Capital
35 Old Post Road
Southport, CT 06890
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Dominion Financial
32 S Street
Baltimore, MD 21202
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15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
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1485 International Parkway, Suite 1031
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601 Silver Creek Drive
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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Roc Capital
645 Madison Ave
New York City, NY 10022
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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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11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
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9465 Counselors Way, Suite 200
Indianapolis, IN 46240
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