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Hard Money Loans in Ferney, South Dakota
Ferney, SD has 13 hard money lenders in the city. The average amount for loans is $535,000. Interest rates on private loans issued to Ferney borrowers average around 10.6%. 22 months is the average term for loans issued in the city. A typical hard money loan offered in the city carries a 2.9 percent origination cost. 71% is the median LTV offered for offered by lenders in Ferney.
Loan Example 1
Robert is an investor in Ferney, SD. He discovers a run-down property and wants to remodel it and sell it for a profit. The house costs $340,000 but he doesn't have the full amount so he takes a hard money loan with Axis Funding Company. The borrower will be required to bring 25% of the sales price in cash to closing based on a 75% loan to value stipulated by the lender. This makes the principle note from Axis Funding Company $255,000. The terms of the note also stipulate a five point origination fee that will be paid at closing and a 12 month, interest-only note with a 9% interest rate.
The borrower must bring a total of $32,400 up front to pay the $85,000 down payment plus the $12,750 origination fee. After the deal is executed and Robert takes over the project, he will have to begin making payments each month of $1,913 to the lender ($255,000 principle x 9% / 12 months). If Robert achieves his goal of a $493,000 sales price when the loan term expires, he would collect a total profit of $117,300 after repaying the principle amount and subtracting the cash he brought to closing, the origination points, and the total monthly interest payments.
Loan Example 2
Blue Square Finance Company issues a hard money loan to Harvey for a rehab project in Ferney, SD. The loan includes the following:
$350,000 sales price
75% loan-to-value (LTV)
6 month term
12% rate of interest
5% origination fee
Harvey plans to sell the property when the note expires for $490,000. If he achieves this goal, the outcome will be the following:
$490,000 sales price
- $262,500 note principle (75% LTV)
- $87,500 down payment (25% on 75% LTV)
- $13,125 origination fee (5% of the $262,500 principle)
- $15,750 interest payments (6 months x 12% interest)
-----------------------
= $111,125 total 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 ...
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 ...
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 ...
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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