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Hard Money Loans in Flandreau, South Dakota
Flandreau, SD has 13 hard money lenders serving the city. Loan amounts average approximately $783,334. Interest rates for hard money loans average around 11.1%. The average loan issued in this city is 22 months in length. The mean origination fee for the loans is 7.9 points. Lenders in Flandreau average a 70% loan to value (LTV) on their deals.
Loan Example 1
Winnie is a house flipper in Flandreau, SD. She locates a run-down property for sale and decides to renovate it and resell it for a profit. The property has a cost of $370,000 but she doesn't have the full amount so she takes out a private money loan with Assurance Funding Company. The terms of the note include a 65% loan-to-value (LTV), so she must bring 35% of the price as cash to closing, making the principle loan amount $240,500. The parameters of the deal also stipulate a three point origination fee which will be paid at closing and a 12 month, interest only note with a 10% interest rate.
Therefore, the borrower will be required to contribute a $129,500 down payment in addition to paying a $7,215 origination fee. The lender will collect $2,004 in monthly interest payments from the Winnie. This is calculated by taking the full note value of $240,500, multiplying that by the 10% interest rate, and then dividing that number by 12. Winnie's intention is to complete the remodel within the 12 months and resell it for $518,000. If she succeeds she will earn a gross profit of $116,735 ($518,000 sales price - $240,500 principle - $129,500 cash paid at closing - $7,215 origination fee - $24,050 in total interest paid.
Loan Example 2
Shelley is a real estate investor in Flandreau, SD. She buys a run-down townhouse for a renovation project and takes out a private money loan from Presitge Funding with the following terms:
$250,000 sales price
80% loan-to-value (LTV)
6 month term
12% interest rate
4% origination fee
If Shelley achieves her goal of a $300,000 sales price, the outcome of the deal would be as follows:
$300,000 sales price
- $200,000 principle on note (80% LTV)
- $50,000 down payment (20% on 80% LTV)
- $8,000 origination fee (4% of the $200,000 principle amount)
- $12,000 interest payments (6 months x 12% interest)
-----------------------
= $30,000 gross profit (does not 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 ...
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. ...
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. ...
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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