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Fix and Flip Loans in Baltic, South Dakota
Baltic, SD has 16 fix-and-flip hard money lenders operating in the city. The average note made to borrowers is about $411,875. The average rate for hard money loans in Baltic is 11.7%. The median loan made in the city is for 20 months. The mean note includes a 3.9 point origination charge. 74% is the typical LTV offered for for loans in Baltic.
Loan Example 1
Keri is a real estate investor in Baltic, SD. She locates an older property for sale and wants to rehab it and flip it for a profit. The property has a cost of $150,000 but she does not have the full amount so she takes a fix-and-flip loan with Ocean View Lending Group. The terms of the note include a 55% loan to value (LTV), so she must bring 45% of the price as cash to closing, which makes the principle loan amount $82,500. The interest rate on the loan is 10% for a length of 12 months and the company requires a one point origination fee at closing. The interest is to be paid monthly and the principle will be repaid after the property sells.
Keri will have to bring a total of $32,400 upon closing to cover the $67,500 down payment in addition to the $825 origination fee. The monthly interest-only payments will then be $688 to Ocean View Lending Group. If Keri meets her goal of a $217,500 sales price at the end of the loan term, she would pocket a gross profit of $58,425 after repaying the principle on the note and deducting the money she paid at closing, the origination fee, and the total monthly interest payments.
Loan Example 2
East Side Funding Company issues a fix and flip loan to Jim for a renovation project in Baltic, SD. The deal dictates the following:
$270,000 purchase price
50% loan to value (LTV)
18 month term
10% interest rate
5% origination fee
After the rehab project is finished, if Jim sells the house for $337,500, the outcome would be as follows:
$337,500 sales price
- $135,000 principle (50% LTV)
- $135,000 cash paid at closing (50% on 50% LTV)
- $6,750 origination points (5% of the $135,000 principle amount)
- $20,250 total interest paid (18 months x 10% interest)
-----------------------
= $40,500 total profit (doesn't include taxes or rehab costs)
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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Harbor Private Equity
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 ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
Secured Investment Lending
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 ...
American Land and Capital
16233 Kenyon Avenue, Suite 120
Lakeville, MN 55044
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
National Advance Group
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 ...
Stratton Equities
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 ...
Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
We lend to all different kinds of real estate investors, whether you are an expert or a novice. We provide funding for building from the ground up, fix-and-flip projects, and a range of single- and multi-family rental loans. Start your ...
New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
New Silver is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get ...
Roc Capital
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 ...
AMUSA Commercial Capital
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 ...
ABC Capital Investments
1218 N. Marshall Street
Philadelphia, PA 19122
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
Gokapital Mortgage
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 ...
Aegis Funding
2100 Main Street, suite 265
Huntington Beach, CA 92648
Aegis Funding is hard money lender based in Huntington Beach, CA. They provide loans throughout California. They offer lending solutions for a variety of needs and situations, including fix and flip loans and long term rental property loans. They issue ...
Quickline Capital Partners
4713 Crossroads Park Drive Suite 101
Liverpool, NY 13088
Quickline Capital Partners is a Syracuse, NY based private lender providing loans across the US. They offer loans for a variety of scenarios, including fix and flip loans and commercial hard money loans. Their lending parameters are flexible, including terms ...
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