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Hard Money Loans in Kadoka, South Dakota
A total of 13 records for private money lenders were found in Kadoka, SD. The average note made is about $368,750. Rates on hard money loans made to Kadoka investors average 10.9%. The mean length for notes is 19 months. The mean origination for loans is 4.4 points. The average LTV for loans in Kadoka is 71%.
Loan Example 1
Debora takes a hard money loan from North Side Investment Corporation in order to rehab a property to flip in Kadoka, SD. The list price of the property is $170,000. The loan to value (LTV) on the loan is 65%. This means Debora will have to bring 35% of the purchase price to closing and the principle amount will be $110,500 on the note. The interest rate on the note is 13% for a term of 18 months and the lender requires a two point origination fee at closing. The interest payments are to be paid monthly and the principle amount will be paid back after the property sells.
The borrower must bring a total of $32,400 upon closing to cover the $59,500 down payment plus the $2,210 origination fee. The lender will collect $1,197 in monthly interest from the Debora. This is calculated by taking the full note amount of $110,500, multiplying by the 13% interest rate, and then dividing that amount by 12. If Debora sells the property for $229,500 after 18 months, she would earn a gross profit of $35,743 after deducting the principle amount of $110,500, the funds contributed at closing of $59,500, the origination fee of $2,210, and the total interest payments of $21,548. This amount doesn't account for remodeling costs.
Loan Example 2
Herman takes a private money loan from Assurance Lending Group so he can rehab a property to flip in Kadoka, SD. The deal has the following parameters:
$370,000 purchase price
50% loan-to-value (LTV)
6 month term
12% interest rate
5% origination fee
Assuming a $499,500 sales price after the 6 month term, the outcome for the deal would look like this:
$499,500 sales price
- $185,000 principle (50% LTV)
- $185,000 down payment (50% on 50% LTV)
- $9,250 origination fee (5% of the $185,000 principle)
- $11,100 interest payments (6 months x 12% interest)
-----------------------
= $109,150 total profit (does not 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 ...
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 ...
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. ...
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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