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Colton, SD has 16 commercial hard money lenders serving the city. The median note amount is $516,667. Rates for loans average 8.5%. The median length for loans is 73 months. The mean origination for the loans is 2.3 percent. 74% is the typical loan-to-value (LTV) for offered by lenders in Colton.
Adam is an entrepreneur in Colton, SD. He wants to acquire a new office building for his business but he isn't able to obtain a conforming loan from his bank because of his below average FICO score. He turns to Success Lending Company for a commercial hard money loan in order to close the purchase. The lender agrees to a 65% loan to value (LTV) on the deal and the property is listed for $1,160,000, so they will loan $754,000 and Adam will pay the additional $406,000. The lender also stipulates the following terms to the loan: 1) a 14% rate of interest, 2) a 3 year term with interest-only payments to be made each month, 3) an origination fee of 2 percent paid by the borrower at closing, and 4) no fees for pre-payment. According to the conditions of the deal, Adam will need to pay origination points of $15,080 when the deal is executed. He will also begin to make payments of $8,797 / month for the duration of the note and will repay the principle amount at the end of the 3 year term. If he decides to pay back the note earlier, he may do so without an additional cost since there isn't a pre-payment penalty associated with the deal.
To accommodate her business, Eileen must acquire a new office building. After being turned down for commercial mortgage from her bank, she obtains a commercial private money loan from East Shore Investment Group. The lender contracts to a 75% loan to value (LTV) on the sale and the new property costs $1,940,000, so they will loan $1,455,000 and Eileen will bring the remaining $485,000. The lender also specifies the following terms to the loan: 1) a 14% rate of interest, 2) a 3 year term 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 pre-payment penalty. By the parameters of this deal, Eileen will have to pay an origination fee of $43,650 when the deal is closed. She will also start making payments of $16,975 / month throughout the duration of the note and will pay back the principle amount at the end of the 3 year term. Should she decide to pay off the note early, she may do so without any additional expense because there isn't a pre-payment penalty stipulated by 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 ...
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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