North Dakota Fix and Flip Loans
North Dakota has 11 fix and flip hard money lenders operating in the state. The average amount loaned is $391,900. Rates for private loans average about 10.8%. The average term offered for loans is 33 months. The average hard money loan issued in the state carries a 4.1 percent origination charge. Lenders typically offer a 74% loan-to-value on loans in North Dakota.
Loan Example 1
Joni closes on a $270,000 rehab project in Fargo, ND, using a fix-and-flip loan from Green Fern Funding Group. Since the lender sets a 70% loan to value, Joni will need to put 30% down and the total amount of the loan will be $189,000. The terms of the note also stipulate a one point origination fee that is to be paid at the closing and a 12 month, interest-only note with a 10% rate of interest.
Joni will have to contribute $81,000 to the closing (30% on the 70% loan to value), plus she will pay the $1,890 origination fee. she will then pay $1,575 per month to the lender. Joni's intention is to complete the project within the 12 months and sell it for $378,000. If she succeeds she will collect a profit of $87,210 ($378,000 price - $189,000 principle amount - $81,000 funds brough to closing - $1,890 origination points - $18,900 in total interest payments.
Loan Example 2
Perfect Funding issues a fix and flip loan to Lorena for a remodeling project in Bismarck, ND. The deal includes the following:
a) A $250,000 purchase price, b) a 55% loan-to-value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 5% origination fee.
Lorena intends to sell the project when the note expires for $350,000. If she achieves this goal, the final numbers would be the following:
$350,000 sales price
- $137,500 loan principle (55% LTV)
- $112,500 down payment (45% on 55% LTV)
- $6,875 origination fee (5% of the $137,500 principle amount)
- $28,875 interest payments (18 months x 14% interest)
-----------------------
= $64,250 gross profit (does not include taxes or renovation costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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, ...
Anchor Loans
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. ...
Next-Financing
6991 E Camelback Rd
Scottsdale, AZ 85251
Next-Financing is based in Scottsdale, Arizona and has a satellite office in Silicon Valley, California. They offer a wide array of financing options for businesses, including fix and flip loans and loans for rental properties. They lend on ...
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 ...
COGO Capital
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 ...
Patch Lending
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 ...
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 ...
Rental Home Financing
9465 Counselors Way, Suite 200
Indianapolis, IN 46240
Rental Home Financing is a private money lender headquartered in Indianapolis, IN offering funding in 26 states across the country. They provide lending solutions for a variety of scenarios, including refinancing, fix-and-flip loans, and loans for investments properties. ...
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