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Sinai, SD has 16 commercial lenders operating within the city. The median loan amount in the city is $673,438. Interest rates for loans average 10.6%. The mean term offered for loans is 21 months. A typical loan made in the city carries a 3.7 point origination fee. The typical loan-to-value offered for loans in Sinai is 76%.
In order to purchase a new office building for his small business, Antonio turns to ABC Investment Corporation to fund his purchase with a commercial hard money loan because he is unable to secure a conforming loan from a bank. The cost of the new building is $1,480,000 and the lending company agrees to fund 50% of the purchase price (the loan to value / "LTV"), or $740,000. The other $740,000 will need to be funded by the borrower when the deal is executed. Additionally, the lender will collect a 1 percent origination fee to go along with the 8%, 4 year term on the loan. They agree to not enforce a pre-payment penalty in the event that Antonio pays off the loan early. By the rules of the deal, Antonio will need to pay an origination charge of $7,400 at the close (1% x $740,000 principle amount) and will then start making payments of $4,933 per month ($740,000 principle amount x 8% interest / 12 months in a year). he will also make a balloon payment of the $740,000 principle amount upon expiration of the note, or before if he chooses to pay off early.
Evelyn owns a small business in Sinai, SD and needs to purchase a new office building to run her operations. Since she is unable to secure a standard loan from a bank, she looks to Flippers Investment Group for a commercial private money loan. The new building costs $680,000. Because there is a 65% loan to value (LTV) stipulated by the lender, the loan principle amount is $442,000. The additional $238,000 will be be paid by the borrower. In addition, the lender will collect a 4 percent origination fee in addition to the 10%, 1 year term on the loan. They will not charge a pre-payment penalty if Evelyn pays off the note before expiration. Evelyn may eliminate the loan at any point by paying off the $442,000 in principle, but she will need to make $3,683 monthly interest payments ($442,000 principle x 10% interest rate / 12 months in a year) in the meantime, or until the note expires. Since there is no pre-payment penalty, the only additional cost she will have is the $17,680 origination points which she will contribute at the closing.
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, ...
"WE LEND YOU GROW" Xpress Loans 911 believes that your business should have ready access to working capital, just like big corporations do. So, we pair you with funders that focus on working with small and mid-sized businesses and are ...
1510 Central Ave, Suite 380
Albany, NY 12205
Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial real estate loans. They issue loan amounts starting at $100,000 with no maximum. They will ...
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 ...
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 ...
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
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 ...
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 ...
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 ...
11241 Willows Rd NE, Suite 120, Bldg C
Redmond, WA 98052
Velocity Mortgage Capital is a wholesale, nationwide lender for asset-based, investment real estate, lending since 2004. We never look at the tax returns or personal income statements of our borrowers. Instead, our focus is the income producing potential of the ...
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 ...
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 ...
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 ...
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
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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