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There are 16 commercial hard money lenders operating in Vermillion, SD. The median amount for loans in this city is $481,945. The median rate for hard money loans in Vermillion is 11.3%. 37 months is the median length for loans issued in this city. The average points added to loans is 3.3%. 72% is the median loan-to-value for for loans in Vermillion.
Reginald runs a business in Vermillion, SD and decides to acquire a new office building to run his operations. Since he is unable to get a standard loan from a bank, he turns to Blue Mountain Investment Company for a commercial hard money loan. The building will cost $890,000. Since there is a 85% loan to value (LTV) agreed to by the lender, the principle will be $756,500. The additional $133,500 will be be paid by Reginald. The parameters of the loan include a 1 year length, a 12% interest rate, and 1 origination points paid by Reginald at the closing. Reginald can eliminate the loan at any point if he pays back the $756,500 in principle, but he will have to make $7,565 monthly interest payments ($756,500 principle amount x 12% interest rate / 12 months per year) in the meantime, or until the loan expires. Because there is no pre-payment penalty, the only other expense he would have is the $7,565 origination points which he will pay at the close.
Minnie runs a small business in Vermillion, SD and needs to purchase a new retail space for her operations. Since she is unable to obtain a commercial mortgage from a bank, she looks to Green Square Lending for a commercial private money loan. The new property is listed for $850,000. Minnie will need to put 45% down, or $382,500, since the lender will fund only 55% of the purchase (the loan to value or "LTV"). This means the principle on the loan is $467,500. The lender additionally stipulates the following terms of the loan: 1) a 14% interest rate, 2) a 1 year length with interest-only payments to be made each month, 3) an origination fee of 3 percent paid by the borrower when the deal closes, and 4) no fees for pre-payment. Minnie will have to pay the origination fee of $14,025 and she will then begin to make the interest payments in the amount of $5,454 ($467,500 principle x 14% interest / 12 months). She can re-pay the note whenever she decides to since there isn't a pre-payment penalty but she is responsible for the principle 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 ...
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 ...
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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