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Hard Money Loans in Astoria, South Dakota
Astoria, SD has 13 hard money lenders offering loans in the city. The median loan amount in this city is $397,778. Interest rates on loans made to Astoria borrowers average about 11.2%. 62 months is the median term for loans offered in this city. The average loan includes a 3.5 percent origination cost. The mean loan-to-value (LTV) for loans in Astoria is 69%.
Loan Example 1
Faye is an investor in Astoria, SD. She locates an older property and wants to rehab it and re-sell it for a profit. The house has a cost of $240,000 but she does not have the full amount so she takes a hard money loan with Victory Finance Company. Because the lender agrees to a 60% loan-to-value, Faye will have to put 40% down and the total amount of the note will be $144,000. The parameters of the deal dictate a 13% note for 12 months. They also require a 1 point origination fee, which will also have to be paid when the property closes.
By the terms of the deal, Faye will have to contribute a $1,440 origination fee in addition to 40% of the sales price, or $96,000, since there is a 60% LTV. The monthly interest only payments will then total $1,560 to Victory Finance Company. If Faye accomplishes her goal of a $312,000 total sales price when the loan expires, she would make a gross profit of $51,840 after re-paying the principle on the note and deducting the cash she paid at closing, the origination fee, and the total monthly interest payments.
Loan Example 2
Luella takes out a loan from Fortune Lending Corporation in order to rehab a townhome to re-sell in Astoria, SD. The deal has the following parameters:
a) A $270,000 sales price, b) a 80% loan-to-value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 3% origination fee.
If Luella achieves her goal of a $324,000 sales price, the outcome of the deal would be the following:
$324,000 sales price
- $216,000 principle on note (80% LTV)
- $54,000 cash paid at closing (20% on 80% LTV)
- $6,480 origination points (3% of the $216,000 principle)
- $25,920 interest payments (18 months x 8% interest)
-----------------------
= $21,600 gross profit (doesn't include taxes or rehab costs)
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CMN Funding
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 ...
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. ...
Rapid Commercial Loans
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 ...
Figure.com
650 California Street, Suite 2700
San Francisco, CA 94108
At Figure, we're transforming home equity by creating a faster, simpler and more transparent way to meet your financial goals. Learn how to use the equity in your home to consolidate debt, pay for home improvement, or fund your goals. ...
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 ...
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. ...
11 Capital Finance
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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