With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Hard Money Loans in Elk Point, South Dakota
There are 13 lenders operating in Elk Point, SD. The mean amount for loans in the city is $423,611. The mean interest rate for private loans in Elk Point is 10.9%. The mean term offered for loans is 19 months. A typical hard money loan made in the city carries a 4.8 percent origination charge. The average loan to value offered for loans in Elk Point is 65%.
Loan Example 1
Audrey finds a townhome in Elk Point, SD to remodel and resell. Since she doesn't have enough cash on-hand to purchase the $350,000 house outright, she decides to take out a hard money loan from All American Lending Corporation. Since the lender agrees to a 75% loan-to-value, Audrey will be required to put 25% down so the amount of the note will be $262,500. The terms of the deal dictate a 12% note for 6 months. They also require a 3 point origination fee, which will also need to be paid upon closing.
By the terms of the loan, Audrey will need to contribute a $7,875 origination fee in addition to 25% of the sales price, or $87,500, since there is a 75% LTV. The lender will collect $2,625 in monthly interest from the borrower. This is computed by taking the full note value of $262,500, multiplying that by the 12% interest rate, and then dividing that number by 12. Assuming she sells the renovated project for $420,000 at the end of the 6 month term, her total profit (not including rehab costs) would be $46,375. This is computed by taking the sales price ($420,000) and subtracting the original note amount ($262,500), the origination cost ($7,875), the funds she contributed to closing ($87,500), and the total interest payments ($15,750).
Loan Example 2
Barbra is a real estate investor in Elk Point, SD. She buys a run-down property for a remodeling project and takes a private money loan from Hometown Investments with the following terms:
$390,000 sales price
55% loan-to-value (LTV)
6 month term
9% interest rate
1% origination fee
Assuming a $585,000 sales price after the 6 month term, the outcome for the project would look like the following:
$585,000 sales price
- $214,500 loan principle (55% LTV)
- $175,500 cash paid at closing (45% on 55% LTV)
- $2,145 origination fee (1% of the $214,500 principle amount)
- $9,653 total interest paid (6 months x 9% interest)
-----------------------
= $183,203 gross profit (doesn't include taxes or renovation 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, ...
"WE LEND YOU GROW" Xpress Loans 911 believes that your business should have ready access to working capital, just like big corporations do. So, we pair you with funders that focus on working with small and mid-sized businesses and are ...
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. ...
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 ...
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. ...
Your Information is Processing