Ask an Expert: 1-888-473-6410
Nunda, SD has 16 commercial private money lenders in the city. The median amount loaned in this city is $610,000. Interest rates for loans average around 10.6%. 19 months is the median term for notes issued in this city. A typical hard money loan made in this city carries a 3.2 point origination charge. 72% is the average loan to value for offered by lenders in Nunda.
Ross owns a business in Nunda, SD and needs to acquire a new commercial building to run his operations. Since he is unable to secure a conforming loan from a bank, he looks to West Shore Lending Corporation for a commercial private money loan. The cost of the new building is $1,020,000 and the lender agrees to contribute 60% of the price (the loan to value / "LTV"), or $612,000. The other $408,000 will be contributed by the borrower when the sale is closed. The lender additionally stipulates the following terms of the deal: 1) a 14% rate of interest, 2) a 1 year term with interest-only payments to be paid monthly, 3) an origination fee of 5 percent paid by Ross at closing, and 4) no pre-payment penalty. According to the parameters of the loan, Ross will need to pay an origination fee of $30,600 when the loan is closed. He will also begin to make payments of $7,140 monthly throughout the duration of the note and will pay back the principle at the expiration of the 1 year term. If he decides to pay off the note early, he can do so without an additional cost because there is not a pre-payment penalty attached to the loan.
Francis owns a business in Nunda, SD and needs to purchase a new building for his operations. Because he is not able to get a standard loan from a bank, he looks to Red View Funding Group for a commercial hard money loan. The building costs $1,850,000. Francis will have to put 20% down, or $370,000, since the lender will fund only 80% of the acquisition (the loan-to-value or "LTV"). Accordingly, the principle on the loan will be $1,480,000. Additionally, the lender will require a 4 percent origination fee along with the 12%, 4 year term on the note. They will not charge a pre-payment penalty if Francis pays off the note early. Francis will need to pay an origination fee of $59,200 and will then begin making the monthly payments in the amount of $14,800 ($1,480,000 principle x 12% interest / 12 months per year). He can repay the note early if he decides to because there isn't a pre-payment penalty but he will be responsible for the principle whenever 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 ...
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. ...
Your Information is Processing