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Hard Money Loans in Carpenter, South Dakota
A total of 15 results for private money lenders were found in Carpenter, SD. The median loan made to borrowers is approximately $445,556. The median rate for hard money loans in Carpenter is 10.1%. The average term for notes is 21 months. The mean origination percentage applied to loans is 1.8%. Lenders in Carpenter average a 70% loan-to-value (LTV) on their loans.
Loan Example 1
Olga takes a private money loan from West Star Investment Corporation in order to remodel a townhome to flip in Carpenter, SD. The sales price of the house is $170,000. Since the lender agrees to a 50% loan-to-value, Olga will have to put 50% down so the total amount of the note will be $85,000. The parameters of the deal dictate a 10% note for 6 months. They also stipulate a 4 point origination fee, that will also need to be paid when the property closes.
Olga will have to contribute $85,000 at the closing (50% on the 50% LTV), plus she will pay the $3,400 origination fee. The monthly interest only payments will then be $708 to the lender. At the end of the note, she sells the renovated house for $246,500. After subtracting the $4,250 in interest expenses ($708 multiplied by 6 months), the $3,400 origination fee, the $85,000 principle amount on the note, and the $85,000 she contributed to the closing, she will earn a gross profit of $68,850 ($246,500 sales price minus $177,650 in costs). This profit would be reduced by any rehab costs paid out of pocket.
Loan Example 2
Alisha locates a house in Carpenter, SD to rehab and sell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Rehabbers Finance with the following parameters:
a) A $260,000 purchase price, b) a 50% loan to value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 4% origination fee.
Alisha intends to list the house at the end of the term for $390,000. If she accomplishes her goal, the outcome will be the following:
$390,000 sales price
- $130,000 note principle (50% LTV)
- $130,000 down payment (50% on 50% LTV)
- $5,200 origination points (4% of the $130,000 principle)
- $13,000 interest payments (12 months x 10% interest)
-----------------------
= $111,800 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!
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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 ...
Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
With more than $21B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors (REIs). Kiavi harnesses the power of data & technology to offer REIs a simpler, more reliable, and faster way ...
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 ...
Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
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. ...
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 ...
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 ...
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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