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Hard Money Loans in Estelline, South Dakota
Estelline, SD has 13 private money lenders in the city. Loan amounts average approximately $371,000. The mean rate for loans in Estelline is 11.1%. The mean length for loans is 23 months. The mean origination for loans is 4.3 points. Lenders typically offer a 70% loan-to-value on loans in Estelline.
Loan Example 1
North Shore Finance makes a private money loan to Shari for a renovation project in Estelline, SD, on a house that costs $190,000. The terms of the deal include a 80% loan-to-value (LTV), so she must bring 20% of the price as cash to closing, making the principle loan amount $152,000. The note is interest-only, with monthly payments, and is for 18 months at 13% interest with 1 points paid at the closing.
In addition to paying the $1,520 origination fee, Shari will also have to fund $38,000 of the purchase with her own cash, or 20% of the purchase price. The monthly interest-only payments will then be $1,647 to North Shore Finance. If Shari accomplishes her goal of a $228,000 total sales price when the loan term expires, she would make a gross profit of $6,840 after repaying the principle and subtracting the money she contributed at closing, the origination fee, and the total interest payments.
Loan Example 2
Clifton takes out a hard money loan from Pretty Perfect Funding in order to renovate a property to re-sell in Estelline, SD. The deal has the following parameters:
a) A $370,000 purchase price, b) a 70% loan to value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 4% origination fee.
Once the renovation project is finished, if Clifton sells the house for $444,000, the numbers would be the following:
$444,000 sales price
- $259,000 principle (70% LTV)
- $111,000 cash paid at closing (30% on 70% LTV)
- $10,360 origination points (4% of the $259,000 principle)
- $11,655 total interest paid (6 months x 9% interest)
-----------------------
= $51,985 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, ...
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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 ...
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. ...
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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