Ask an Expert: 1-888-473-6410
Egan, SD has 16 commercial private money lenders serving the city. The average amount loaned in the city is $378,125. Interest rates on hard money loans issued to Egan investors average about 10.2%. 55 months is the average length for notes issued in this city. A typical loan offered in the city carries a 4.2 point origination cost. The mean LTV offered for loans in Egan is 72%.
Tammie runs a business in Egan, SD and needs to acquire a new warehouse to run her operations. Since she is unable to obtain a standard loan from a bank, she turns to Top Notch Lending Company for a commercial hard money loan. The list price of the building is $520,000 and the lender agrees to contribute 60% of the purchase price (the loan-to-value / "LTV"), or $312,000. The other $208,000 will be paid by the borrower when the transaction is executed. The deal also includes a 5 year length, a 12% interest rate, interest only payments made each month with a final payment at the end of the note (with no pre-payment penalty), and a 5 percent origination charge. According to the parameters of this loan, Tammie will have to pay an origination fee of $15,600 when the loan is executed. She will also start to make payments of $3,120 monthly for the duration of the note and will repay the principle at the expiration of the 5 year loan term. Should she decide to re-pay the note early, she may do so without additional cost because there is not a pre-payment penalty associated with the loan.
Famous Funding makes a hard money loan to Melanie for the purchase of a new warehouse after she is denied a standard loan by her bank due to a subpar credit rating. Since the lender and borrower agree on a 80% loan to value (LTV), Melanie will pay $362,000 at the closing and the loan principle amount will be $1,448,000 because the price of the new property is $1,810,000. The deal also includes a 5 year length, a 8% rate of interest, interest only payments made monthly with a final payment at the end of the note (without a pre-payment penalty), and a 5 point origination fee. Melanie will pay an origination fee of $72,400 and she will then begin making the monthly payments in the amount of $9,653 ($1,448,000 principle x 8% interest / 12 months in a year). She can pay off the note early if she decides to because there isn't a pre-payment penalty but she will be responsible for the full principle amount when she 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 ...
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 ...
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 ...
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. ...
Your Information is Processing