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Hard Money Loans in Labolt, South Dakota
There are 13 hard money lenders operating in Labolt, SD. Loan amounts average approximately $412,500. Rates on loans made to Labolt investors average 11.3%. 29 months is the average term for loans offered in this city. A typical loan made in the city includes a 3.6 point origination cost. Lenders offer on average a 68% loan to value on deals in Labolt.
Loan Example 1
Timothy is a house flipper in Labolt, SD. He discovers a run-down property and wants to rehab it and resell it for a profit. The property costs $290,000 but he does not have the full amount so he takes out a private money loan with Presitge Lending Company. The loan-to-value (LTV) on the deal is 85%. This means Timothy will need to bring 15% of the purchase price to the closing and the principle will be $246,500 on the note. The terms of the loan dictate a 9% note for 12 months. They also stipulate a 3 point origination fee, which will also need to be paid at closing.
Timothy will have to bring $43,500 to closing (15% on the 85% LTV), plus he will need to pay the $7,395 origination fee. Presitge Lending Company will collect $1,849 in monthly interest payments from the borrower. This is calculated by taking the full loan amount of $246,500, multiplying by the 9% rate of interest, and then dividing that number by 12. If Timothy accomplishes his goal of a $435,000 total sales price at the end of the loan term, he would pocket a total profit of $115,420 after re-paying the principle on the note and deducting the money he paid at closing, the origination points, and the monthly interest payments.
Loan Example 2
Milton is a real estate investor in Labolt, SD. He finds a run-down property for a renovation project and takes a hard money loan from Reliance Finance Company with the following paramters:
a) A $340,000 sales price, b) a 80% loan-to-value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 2% origination fee.
If Milton accomplishes his goal of a $476,000 sales price, the numbers of the deal would be as follows:
$476,000 sales price
- $272,000 principle on note (80% LTV)
- $68,000 down payment (20% on 80% LTV)
- $5,440 origination fee (2% of the $272,000 principle amount)
- $27,200 total interest paid (12 months x 10% interest)
-----------------------
= $103,360 gross profit (doesn't 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 ...
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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