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Hard Money Loans in Ellsworth Afb, South Dakota
Ellsworth Afb, SD has 13 hard money lenders serving the city. The mean loan amount in the city is $400,417. The mean rate for loans in Ellsworth Afb is 11.7%. 26 months is the mean term for loans offered in the city. The mean origination for loans is 2.8 points. 69% is the mean loan-to-value for for loans in Ellsworth Afb.
Loan Example 1
Eugene is a house flipper in Ellsworth Afb, SD. He locates an older property and wants to rehab it and sell it for a profit. The property has a cost of $330,000 but he doesn't have the full amount so he takes a private money loan with XYZ Investment Company. The loan-to-value (LTV) on the note is 50%. This means that Eugene will need to bring 50% of the purchase price to closing and the principle amount will be $165,000 on the loan. The terms of the loan dictate a 14% note for 18 months. They also stipulate a 3 point origination fee, which will also have to be paid when the property closes.
On top of the $4,950 origination fee, Eugene will also need to fund $165,000 of the purchase with his own money, or 50% of the purchase price. Once the deal closes, he will need to pay XYZ Investment Company $1,925 in monthly interest fees, or 14% multiplied by $165,000 divided by 12 months in a year. Eugene's plan is to finish the project within the 18 months and sell it for $412,500. If he succeeds he will earn a total profit of $42,900 ($412,500 sales price - $165,000 principle amount - $165,000 down payment - $4,950 origination fee - $34,650 in total interest payments.
Loan Example 2
Wade takes a hard money loan from K & M Funding in order to remodel a property to re-sell in Ellsworth Afb, SD. The deal has the following terms:
a) A $340,000 purchase price, b) a 85% loan to value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 3% origination fee.
If Wade succeeds in his goal of a $425,000 sales price, the outcome of the deal would be as follows:
$425,000 sales price
- $289,000 principle (85% LTV)
- $51,000 down payment (15% on 85% LTV)
- $8,670 origination fee (3% of the $289,000 principle)
- $13,005 total interest paid (6 months x 9% interest)
-----------------------
= $63,325 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. ...
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 ...
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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