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Hard Money Loans in Hill City, South Dakota
A total of 13 results for hard money lenders were found in Hill City, SD. Loan amounts average approximately $1,527,500. The average interest rate for loans in Hill City is 10.2%. The typical term offered for loans is 26 months. The average points applied to loans is 2.5%. Lenders in Hill City average a 68% loan to value (LTV) on their deals.
Loan Example 1
Jonathan finds a property in Hill City, SD to renovate and re-sell. Since he doesn't have enough cash to acquire the $220,000 project outright, he decides to take out a hard money loan from Deep Lake Lending Company. The lender agrees to write a loan with a 80% loan-to-value (LTV) so they are willing to loan $176,000 on the property. The parameters of the deal dictate a 14% note for 18 months. They also require a 3 point origination fee, that will also need to be paid when the property closes.
Jonathan will have to contribute $44,000 to the closing (20% on the 80% loan to value), plus he will have to pay the $5,280 origination fee. After the loan closes, he will have to pay the lender $2,053 in monthly interest payments, or 14% times $176,000 divided by 12 months in the year. Jonathan's intention is to finish the remodel within the 18 months and re-sell it for $308,000. If he succeeds he will make a total profit of $45,760 ($308,000 price - $176,000 principle - $44,000 cash at closing - $5,280 origination points - $36,960 in interest.
Loan Example 2
Byron takes a hard money loan from East End Lending so he can rehab a house to re-sell in Hill City, SD. The deal has the following terms:
$370,000 sales price
55% loan to value (LTV)
18 month term
14% interest rate
5% origination fee
After the rehab project is finished, if Byron sells the project for $555,000, the final numbers would be the following:
$555,000 sales price
- $203,500 principle (55% LTV)
- $166,500 cash paid at closing (45% on 55% LTV)
- $10,175 origination points (5% of the $203,500 principle amount)
- $42,735 total interest paid (18 months x 14% interest)
-----------------------
= $132,090 gross profit (does not 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 ...
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 ...
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 ...
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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