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Mitchell, SD has 16 commercial lenders serving the city. The average loan made is around $450,000. The average interest rate for private loans in Mitchell is 11.0%. The median term offered for loans is 31 months. A typical hard money loan made in this city includes a 3.8 point origination fee. Lenders offer on average a 74% loan-to-value (LTV) on deals in Mitchell.
Capable Lending Company issues a hard money loan to Cody for the acquisition of a new warehouse after he is turned down for a conforming loan by his credit union due to a subpar credit rating. The new building carries a price tag of $1,940,000. Cody will need to put 20% down, or $388,000, since the lender will loan only 80% of the purchase (the loan-to-value or "LTV"). Accordingly, the principle amount on the note will be $1,552,000. Additionally, the lender will collect a 2 percent origination fee to go along with the 8%, 4 year term on the deal. They agree to not charge a pre-payment penalty in the event that Cody pays off the loan before it expires. Cody will need to pay an origination fee of $31,040 and he will then begin to make the monthly payments of $10,347 ($1,552,000 principle amount x 8% interest rate / 12 months per year). He can repay the note early if he decides to since there is not a pre-payment penalty but he will be responsible for paying off the full principle whenever he eliminates the loan.
Urban Lending Group issues a private money loan to Roland for the acquisition of a new building after he is turned down for a conventional mortgage loan by his credit union due to a subpar credit rating. The price of the property is $1,790,000 and the lending company agrees to contribute 85% of the cost (the loan-to-value / "LTV"), or $1,521,500. The remaining $268,500 will be paid by the borrower when the sale is executed. Additionally, the lender will charge a 4 percent origination fee in combination with the 10%, 3 year term on the note. They agree to not charge a pre-payment penalty if Roland pays off the loan before expiration. Roland will have to pay an origination fee of $60,860 and will then begin making the monthly payments in the amount of $12,679 ($1,521,500 principle x 10% interest / 12 months in a year). He may repay the note whenever he chooses because there isn't a pre-payment penalty but he is responsible for paying off the original principle whenever he concludes the loan.
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 ...
3014 N. Hayden Rd Suite 115
Scottsdale, AZ 85251
Capstone Financial is a Scottsdale, AZ based hard money lender who provides loans all across the US. They provide lending solutions for a variety of needs and situations, including cash out loans, fix and flip hard money loans, short ...
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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