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Hard Money Loans in Dell Rapids, South Dakota
There are 13 records for private money lenders operating in Dell Rapids, SD. The mean note amount is $400,000. Interest rates for hard money loans average about 10.2%. The typical length offered for notes is 40 months. The average origination fee for the loans is 3.3 percent. 69% is the mean LTV offered for offered by lenders in Dell Rapids.
Loan Example 1
Velma closes on a $250,000 rehab project in Dell Rapids, SD, using a private money loan from Success Finance Company. The loan to value (LTV) on the loan is 55%. This means that Velma will have to bring 45% of the sales price to closing and the principle will be $137,500 on the deal. The rate on the loan is 12% for a length of 6 months and the company requires a four point origination fee at closing. The interest is to be paid on a monthly basis and the principle will be repaid after the property sells.
On top of the $5,500 origination fee, Velma will also fund $112,500 of the purchase with her own funds, or 45% of the sales price. Once the deal is closed and Velma takes on the project, she will need to begin making payments each month of $1,375 to the lender ($137,500 principle x 12% / 12 months). Assuming she sells the renovated project for $337,500 at the end of the 6 month term, her gross profit (not including renovation costs) would be $73,750. This is computed by taking the sales price ($337,500) and subtracting the principle ($137,500), the origination fee ($5,500), the cash she contributed to closing ($112,500), and the total interest payments ($8,250).
Loan Example 2
Floyd finds a property in Dell Rapids, SD to rehab and re-sell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Rolling Brook Investment Company with the following parameters:
a) A $330,000 sales price, b) a 50% loan-to-value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 2% origination fee.
If Floyd succeeds in his goal of a $478,500 sales price, the final numbers of the project will be as follows:
$478,500 sales price
- $165,000 principle (50% LTV)
- $165,000 cash paid at closing (50% on 50% LTV)
- $3,300 origination points (2% of the $165,000 principle)
- $16,500 interest payments (12 months x 10% interest)
-----------------------
= $128,700 total 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. ...
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 ...
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. ...
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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