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Hard Money Loans in Colman, South Dakota
A total of 13 results for private money lenders were found in Colman, SD. The mean amount for loans in this city is $470,313. Rates for loans average 10.1%. The median length offered for notes is 20 months. The average origination percentage charged on the loans is 2.9%. Lenders typically offer a 72% loan to value on deals in Colman.
Loan Example 1
Jesus is a real estate investor in Colman, SD. He finds a run-down property and decides to rehab it and resell it for a profit. The house has a cost of $340,000 but he doesn't have the full amount so he takes a private money loan with Allstar Lending Corporation. The terms of the deal include a 75% loan to value (LTV), so he must bring 25% of the price as cash to closing, which makes the principle note amount $255,000. The loan is interest only, with monthly payments, and is for 18 months at 12% interest with 1 origination points paid when the deal closes.
On top of the $2,550 origination fee, Jesus will also fund $85,000 of the purchase with his own cash, or 25% of the purchase price. he must then pay $2,550 monthly to Allstar Lending Corporation. If Jesus sells the project for $476,000 after 18 months, he would earn a gross profit of $87,550 after deducting the original principle of $255,000, the money contributed at closing of $85,000, the origination points of $2,550, and the aggregate interest payments of $45,900. This profit doesn't account for renovation costs.
Loan Example 2
Bryan is a real estate investor in Colman, SD. He locates a run-down property for a remodeling project and takes a hard money loan from East Shore Lending Group with the following paramters:
a) A $150,000 purchase price, b) a 85% loan to value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 1% origination fee.
After the renovation project is finished, if Bryan sells the property for $225,000, the final numbers would be the following:
$225,000 sales price
- $127,500 principle (85% LTV)
- $22,500 down payment (15% on 85% LTV)
- $1,275 origination fee (1% of the $127,500 principle)
- $10,200 interest payments (12 months x 8% interest)
-----------------------
= $63,525 gross 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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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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