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Hard Money Loans in Canistota, South Dakota
Canistota, SD has 13 hard money lenders offering loans within the city. In this city, the average amount for loans is $413,889. Interest rates on loans issued to Canistota borrowers average around 10.9%. 25 months is the average term for loans made in this city. The mean origination percentage charged for the loans is 3.7%. 69% is the mean LTV for offered by lenders in Canistota.
Loan Example 1
South End Lending Group makes a loan to Cora for a renovation project in Canistota, SD, on a house that is listed for $270,000. The lender agrees to write a loan with a 85% loan to value (LTV) so they will extend $229,500 on the project. The loan also includes these features: 1) a 12 month term, 2) a 8% interest only note, and 3) a three point origination fee.
Cora will need to bring a total of $32,400 up front to cover the $40,500 down payment plus the $6,885 origination fee. After the loan is closed and Cora takes on the project, she will have to begin making payments each month of $1,530 to the lender ($229,500 principle x 8% / 12 months). Assuming she sells the renovated house for $364,500 at the end of the 12 month term, her total profit (not including rehab expenses) would be $69,255. This is computed by taking the sales price ($364,500) and subtracting the original principle ($229,500), the origination fee ($6,885), the money she brought to closing ($40,500), and the total interest payments ($18,360).
Loan Example 2
Raymond is a an investor in Canistota, SD. He finds an older townhouse for a rehab project and obtains a hard money loan from GJ Funding Group with the following terms:
$200,000 sales price
60% loan to value (LTV)
18 month term
12% rate of interest
3% origination fee
Raymond intends to sell the house when the note expires for $240,000. If he achieves this goal, the final numbers would be the following:
$240,000 sales price
- $120,000 principle (60% LTV)
- $80,000 cash paid at closing (40% on 60% LTV)
- $3,600 origination points (3% of the $120,000 principle amount)
- $21,600 interest payments (18 months x 12% interest)
-----------------------
= $14,800 gross profit (does not 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 ...
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. ...
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 ...
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 ...
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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