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Hard Money Loans in Howard, South Dakota
A total of 13 search results for hard money lenders were found in Howard, SD. In this city, the average amount loaned is $388,750. Interest rates on private loans issued to Howard investors average around 11.5%. The average loan made in this city is for 24 months. The average points charged for loans is 6.3%. 70% is the median LTV for offered by lenders in Howard.
Loan Example 1
Joanna takes a private money loan from Forest Grove Finance Group in order to remodel a duplex to flip in Howard, SD. The price of the property is $350,000. The borrower will need to bring 40% of the sales price in cash to closing based on a 60% loan to value stipulated by the lending company. This makes the principle amount from Forest Grove Finance Group $210,000. The terms of the note also include a three point origination fee which will be paid at closing and a 18 month, interest only note with a 10% rate of interest.
Joanna will need to bring $140,000 to the closing (40% on the 60% loan to value), plus she will have to pay the $6,300 origination fee. The monthly interest only payments will then total $1,750 to the lender. If Joanna achieves her goal of a $472,500 total sales price at the end of the loan term, she would make a total profit of $84,700 after re-paying the principle and subtracting the cash she paid at closing, the origination points, and the total monthly interest payments.
Loan Example 2
All State Lending Group makes a private money loan to Neil for a rehab project in Howard, SD. The deal includes the following:
a) A $360,000 purchase price, b) a 55% loan to value (LTV), c) a 18 month term, d) a 9% interest rate, and e) a 1% origination fee.
Neil intends to sell the house when the note expires for $504,000. If he accomplishes his goal, the outcome would be as follows:
$504,000 sales price
- $198,000 loan principle (55% LTV)
- $162,000 down payment (45% on 55% LTV)
- $1,980 origination fee (1% of the $198,000 principle)
- $26,730 total interest paid (18 months x 9% interest)
-----------------------
= $115,290 gross profit (doesn't include taxes or renovation 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 ...
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. ...
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 ...
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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