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Pierre, SD has 16 commercial lenders operating in the city. The median note amount in this city is $463,889. Interest rates for loans average about 11.2%. The average note issued in the city has a term of 26 months. A typical hard money loan offered in this city carries a 2.6 point origination charge. 71% is the typical loan-to-value for for loans in Pierre.
Curtis is an entrepreneur in Pierre, SD. He wants to acquire a new office building for his company but he is not able to secure a conventional mortgage loan from his bank due to his below average FICO score. He turns to Trust Investment Corporation for a commercial hard money loan to close the purchase. The new building carries a price tag of $980,000. Curtis will need to put 45% down, or $441,000, since the lender will only loan 55% of the acquisition (the loan to value or "LTV"). Accordingly, the principle on the loan is $539,000. The lender also lays out the following terms of the deal: 1) a 13% rate of interest, 2) a 1 year length with interest-only payments to be paid monthly, 3) an origination fee of 2 percent paid by Curtis when the deal closes, and 4) no penalty for pre-payment. In accordance with the conditions of this loan, Curtis will have to pay an origination fee of $10,780 when the loan is closed. He will also start to make payments of $5,839 each month for the duration of the loan and will pay off the principle at the end of the 1 year term. Should he decide to pay off the loan early, he may do so without an additional expense since there isn't a pre-payment penalty associated with the note.
Russell is a small business owner in Pierre, SD. He wants to purchase a new retail space for his business but he isn't able to obtain a commercial mortgage from his bank due to his subpar FICO score. He looks to River View Investment Corporation for a commercial hard money loan in order to fund the purchase. The new building costs $1,750,000. Russell will have to put 35% down, or $612,500, since the lender will fund only 65% of the purchase (the loan to value or "LTV"). This means that the principle on the note will be $1,137,500. Additionally, the lender requires a 2 point origination fee in combination with the 12%, 2 year term on the note. They will not charge a pre-payment penalty in the event that Russell pays off the note early. By the terms of this deal, Russell will pay origination points of $22,750 when the deal is executed. He will also begin to make payments of $11,375 each month throughout the duration of the note and will pay off the principle at the expiration of the 2 year term. If he decides to re-pay the note early, he can do so without an additional expense since there is not a 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, ...
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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 ...
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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