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Hard Money Loans in Ethan, South Dakota
We found 13 search results for hard money lenders offering loans in Ethan, SD. Note amounts average around $356,945. Interest rates on private loans issued to Ethan borrowers average about 11.1%. The typical note issued in the city is 23 months in length. The average loan includes a 2.6 percent origination fee. Lenders in Ethan average a 70% LTV on their loans.
Loan Example 1
Leslie takes a hard money loan from West Star Funding in order to remodel a condo to resale in Ethan, SD. The price of the property is $230,000. Since the lender agrees to a 55% loan to value, Leslie will have to put 45% down so the amount of the loan will be $126,500. The terms of the deal also stipulate a two percent origination fee that will be paid at the closing and a 18 month, interest-only note with a 12% rate of interest.
In accordance with the terms of the deal, Leslie will be required to contribute a $2,530 origination fee in addition to 45% of the purchase price, or $103,500, based on the 55% LTV. The lender will collect $1,265 in monthly interest from the Leslie. This is computed by taking the full loan value of $126,500, multiplying by the 12% rate of interest, and then dividing that number by 12. At the expiration of the note, she sells the renovated property for $345,000. After subtracting the $22,770 in interest payments ($1,265 multiplied by 18 months), the $2,530 origination fee, the $126,500 principle on the note, and the $103,500 she contributed to the closing, she will make a total profit of $89,700 ($345,000 price minus $255,300 in total costs). This profit would be reduced by any rehab costs paid out of pocket.
Loan Example 2
Darryl takes out a private money loan from All Star Finance in order to rehab a townhome to flip in Ethan, SD. The loan has the following terms:
$160,000 purchase price
70% loan-to-value (LTV)
6 month term
13% rate of interest
3% origination fee
If Darryl accomplishes his goal of a $200,000 sales price, the outcome of the deal will be the following:
$200,000 sales price
- $112,000 principle (70% LTV)
- $48,000 down payment (30% on 70% LTV)
- $3,360 origination fee (3% of the $112,000 principle amount)
- $7,280 total interest paid (6 months x 13% interest)
-----------------------
= $29,360 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 ...
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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