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Mundelein, IL has 48 commercial hard money lenders operating in the city. The median note amount in the city is $308,929. Interest rates on hard money loans issued to Mundelein borrowers average about 10.9%. The median loan issued in the city is for 36 months. A typical hard money loan offered in the city carries a 3.4 point origination cost. Lenders in Mundelein average a 73% loan to value on their deals.
Greg is a small business owner in Mundelein, IL. He decides to acquire a new warehouse for his company but he is not able to secure a conventional mortgage loan from his bank due to his low credit rating. He turns to Oceanside Funding Corporation for a commercial hard money loan to fund the transaction. The cost of the new building is $990,000 and the lending company agrees to fund 80% of the cost (the loan-to-value / "LTV"), or $792,000. The remaining $198,000 will be funded by the borrower when the loan is closed. Additionally, the lender requires a 4 point origination fee in addition to the 12%, 3 year term on the deal. They will not charge a pre-payment penalty in the event that Greg pays off the note before expiration. By the terms of the deal, Greg will pay an origination charge of $31,680 at the close (4% x $792,000 principle value) and will then start making payments of $7,920 monthly ($792,000 principle value x 12% interest / 12 months per year). Finally, he will make a balloon payment of the $792,000 principle value upon expiration of the loan, or sooner if he decides to pay off early.
Evergreen Lending issues a hard money loan to Fay for the purchase of a new commercial building after she is turned down for a conventional mortgage loan by her bank due to a low credit rating. The lender agrees to a 75% loan-to-value (LTV) on the transaction and the new building is listed for $1,960,000, so they will contribute $1,470,000 and Fay will be responsible for the other $490,000. In addition, the lender requires a 3 percent origination fee along with the 11%, 2 year term on the note. They agree to not enforce a pre-payment penalty if Fay pays off the note before it expires. Fay may eliminate the loan at any time if she pays back the $1,470,000 in principle, however, she will have to pay $13,475 per month interest payments ($1,470,000 principle amount x 11% interest / 12 months) in the interim, or up to the point the note expires. Because there is not a pre-payment penalty, the only additional expense she would have to pay is the $44,100 origination points which she will pay when the deal closes.
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 ...
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 ...
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
701 W Broad Street, Suite 200
Bethlehem, PA 18018
Direct Lending Partners originates short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate in the states of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, MO, NC, NE, ...
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 ...
932 Hungerford Drive, Unit 6
Rockville, MD 20850
Based in Rockville, MD, ACC Mortgage is a hard money lender offering loans in 16 states across the country. They offer fix and flip loans, commercial loans, private refinancing, and buy and hold loans. Their loan parameters ...
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 ...
321 N Central Expressway, Suite 360
McKinney, TX 75071
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
1121 E. Mullan Ave
Coeur d'Alene, IA 83814
Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including ...
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
4425 Ponce De Leon Blvd, Suite 250
Coral Gables, FL 33146
Silver Hill Funding is private lender based in Coral Gables, FL. They provide funding in 39 states throughout the United States. Their lending focus is primarily on commercial loans. They provide rates ranging between 6% ...
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 ...
7777 Glades Road
Boca Raton, FL 33436
Layla Capital is a direct lender based in Boca Raton, FL (formerly New York City) that specializes in small to middle market debt opportunities in primary and secondary markets nationwide, with a greater focus on the East Coast and Midwest. ...
259 Minot Ave
Auburn, ME 04210
T&M Commercial Funding is an Auburn, ME based private lender who provides loans in 47 states across the US. They provide lending solutions for a variety of situations and needs, including bridge loans and commercial hard money loans. ...
21650 Oxnard Street, Suite 1700
Woodland Hills, CA 91367
Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
Gelt Financial LLC was founded in 1989 to help both borrowers and brokers finance their real estate. With loan amounts from $100K-$5M on vacant, non-owner occupied, and owner-occupied properties, Gelt Financial funds both purchases and refinances. Additionally, Gelt provides creative ...
180 N. Stetson Avenue, Suite 3500
Chicago, IL 60601
P2 Funding is hard money lender headquartered in Chicago, IL. They provide funding in Illinois. Their lending focus is primarily on hard money loans for commercial properties. They provide loan amounts ranging from $50,000 to ...
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 ...
601 Silver Creek Drive
Shorewood , IL 60432
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
439 W Vine St
Kissimmee, FL 34741
Aero Capital Finance is a Kissimmee, FL based private lender. They provide loans in 18 states throughout the United States. They offer loans for a variety of scenarios, including private refinancing, fix and flip loans, hard money loans ...
1101 Brickell Ave
Miami, FL 33131
NSB Financing is a Miami, FL based hard money lender. They offer loans in 10 states throughout the United States. They offer loans for many different situations and needs, including commercial hard money loans, hard money construction loans, ...
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new construction loans, ...
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 ...
45 North Station Plaza
Great Neck, NY 11021
Sharestates is a private, hard money lender in 46 states across the US. We offer financing solutions for a variety of needs and situations, including hard money loans for commercial properties, residential fix and flips, ground up construction, and long ...
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
148 Hammond Drive
Sandy Springs, GA 30328
Fairview Commercial Lending is a Sandy Springs, GA based private money lender. They offer loans throughout Colorado, Florida, Georgia, and Illinois. They provide lending solutions for many different scenarios, including private commercial loans, short term fix and ...
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. ...
222 South Riverside Plaza, Suite 380
Chicago, IL 60606
Headquartered in Chicago, IL, Community Investment Corporation is an asset-based lender offering funding throughout Chicago. Their lending focus is mainly on hard money loans for commercial properties. Their loan parameters are flexible, including terms up to 10 ...
P.O. Box 237
Lake Geneva, WI 53147
Geneva Lakes Funding is a hard money lender based in Lake Geneva, Wisconsin. They offer loans for single family homes, multi-family homes, and commercial properties. Their rates range from 13% up to 15% with 3 - 5 points ...
PO Box 200862
Denver, CO 80220
Omega Funding is a hard money lender headquartered in Denver, CO providing funding in 8 states throughout the US. They provide hard money loans for commercial properties, short term loans, and refinancing. They provide terms between ...
5250 Old Orchard Rd. Suite 310
Skokie, IL 60077
Based in Skokie, IL, Medford Capital is an asset-based lender offering loans throughout Illinois, Wisconsin, Indiana, and Michigan. They provide commercial hard money loans, investment property loans, and fix-and-flip hard money loans. They provide loan ...
19950 W. Country Club Drive, #904
Aventura, FL 33180
New Wave Loans is an asset-based lender based in Aventura, FL providing funding throughout New York, Arizona, Illinois, and Florida. They provide lending solutions for a variety of situations, including buy and hold loans, commercial loans, ground up ...
130 East Chestnut St., Suite 200
Columbus, OH 43215
ReCasa Financial Group is a Columbus, OH based private money lender providing funding in 9 states across the US. They provide lending solutions for many different needs and situations, including hard money bridge loans, private commercial loans, refinancing, ...
100 Stony Point Rd., Suite 260
Santa Rosa, CA 95401
ARC Capital is a Santa Rosa, CA based private lender providing funding in 17 states throughout the country. They offer long term rental property loans, bridge loans, hard money loans for commercial properties, and short term fix and ...
5737 Kanan Rd
Agoura Hills, CA 91301
Allied Commercial Funding is private lender headquartered in Agoura Hills, CA. They provide funding in 43 states throughout the US. They provide lending solutions for a variety of situations and needs, including hard money loans for commercial ...
5600 Arapahoe Ave
Boulder, CO 80303
Resolve Funding is a Boulder, CO based private lender who provides funding in 18 states across the US. They offer hard money bridge loans, fix-and-flip hard money loans, cash out loans, and commercial loans. Their lending guidelines ...
1010 NE 2nd Ave
Miami Beach, FL 33132
Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States. They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...
825 N. Charles Street
Baltimore, MD 21201
Based in Baltimore, MD, EZ Money Lending Co is an asset-based lender offering funding in 9 states across the US. They offer lending solutions for a variety of situations, including private commercial loans and fix-and-flip hard money loans. ...
2670 N. Main St, Suite 350B
Santa Ana, CA 92705
Based in Santa Ana, CA, Unlimited Capital Group is a private lender offering loans in 15 states across the country. They offer loans for a variety of situations, including fix-and-flip loans, refinancing, bridge loans, loans for rental properties, commercial ...
7331 Randolph St
Hobart, IN 46342
Render Capital Group is a Hobart, IN based hard money lender. They offer loans in 15 states across the country. They offer loans for a variety of scenarios, including commercial hard money loans, hard money bridge loans, ...
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