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Huron, SD has 16 commercial private money lenders offering loans within the city. The average loan issued to borrowers is around $583,438. The average interest rate for hard money loans in Huron is 9.4%. The median term for notes is 60 months. The average loan issued in the city carries a 2.1 percent origination cost. 73% is the typical loan-to-value (LTV) for for loans in Huron.
Ken runs a business in Huron, SD and decides to purchase a new warehouse for his operations. Since he can't obtain a conventional mortgage loan from a bank, he turns to Dimension Investment Group for a commercial private money loan. The cost of the building is $600,000 and the lender agrees to fund 60% of the purchase price (the loan-to-value / "LTV"), or $360,000. The remaining $240,000 will need to be paid by the borrower when the loan is executed. The parameters of the loan include a 3 year term, a 13% rate of interest, and 5 origination points paid by the borrower when the deal closes. By the parameters of this loan, Ken will have to pay an origination charge of $18,000 at closing (5% x $360,000 principle value) and will then make payments of $3,900 per month ($360,000 principle value x 13% interest / 12 months in a year). Finally, he will make a final payment of the $360,000 principle value upon expiration of the loan, or before if he decides.
K & M Finance Company issues a hard money loan to Jamie for the acquisition of a new building after he is denied a standard loan by his credit union due to a low credit rating. The building is listed for $1,650,000. Based on a 85% loan-to-value (LTV) agreed to by the lender, the loan principle will be $1,402,500. The remaining $247,500 will be the responsibility of the borrower. The terms of the deal include a 3 year length, a 12% interest rate, and a 3 origination fee to be paid by the borrower when the deal closes. Jamie will have to pay the origination fee of $42,075 and will then start making the monthly payments of $14,025 ($1,402,500 principle x 12% interest rate / 12 months in a year). He can repay the note whenever he chooses since there is not a pre-payment penalty but he will be responsible for paying off the principle when he eliminates 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 ...
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 ...
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 ...
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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