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There are 16 commercial private money lenders operating in Yankton, SD. The median amount for loans is $559,375. The median rate for loans in Yankton is 10.7%. The typical loan made in this city is for 36 months. The mean loan includes a 3.7 point origination cost. Lenders typically offer a 69% loan-to-value (LTV) on loans in Yankton.
Investors Investment Group makes a hard money loan to Erika for the purchase of a new warehouse after she is denied a conventional mortgage loan by her credit union because she has a low FICO score. The cost of the new building is $1,310,000 and the lending company agrees to fund 70% of the purchase price (the loan-to-value / "LTV"), or $917,000. The remaining $393,000 will be contributed by the borrower when the sale is closed. The lender additionally stipulates the following terms to the transaction: 1) a 9% rate of interest, 2) a 1 year length with interest only payments to be made each month, 3) an origination fee of 2 percent paid by the borrower at the close, and 4) no penalty for pre-payment. Erika will have to pay the origination fee of $18,340 and she will then start making the interest payments in the amount of $6,878 ($917,000 principle x 9% interest / 12 months per year). She may repay the note early if she chooses since there is no pre-payment penalty but she is responsible for paying off the principle when she closes the loan.
To accommodate her business, Kimberley must acquire a new warehouse. After being denied a commercial mortgage from her bank, she obtains a commercial private money loan from Prosperity Funding Group. Because the borrower and lender contract to a 85% loan-to-value (LTV), Kimberley will fund $108,000 at closing and the principle will be $612,000 since the list price of the property is $720,000. The parameters of the loan include a 2 year length, a 9% rate of interest, and a 1 origination fee to be paid by the borrower at the closing. In accordance with the specifications of this deal, Kimberley will need to pay origination points of $6,120 when the deal closes. She will also start making payments of $4,590 per month for the duration of the loan and will pay off the principle at the end of the 2 year term. If she decides to re-pay the loan earlier, she can do so without additional expense since there is no pre-payment penalty stipulated by the deal.
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 ...
5660 Strand Court
Naples, FL 34110
Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
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 ...
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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