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Hard Money Loans in Lead, South Dakota
Lead, SD has 13 hard money lenders operating within the city. In this city, the average note amount is $579,167. Interest rates on private loans made to Lead investors average around 11.2%. 19 months is the average term for notes issued in this city. A typical loan issued in the city includes a 2.8 point origination charge. The mean loan-to-value (LTV) for loans in Lead is 69%.
Loan Example 1
Rehabbers Funding Company issues a hard money loan to Sam for a remodeling project in Lead, SD, on a house that costs $400,000. The borrower will be required to bring 50% of the purchase price in cash to the closing based on a 50% loan to value set by the lender. This makes the principle note from Rehabbers Funding Company $200,000. The loan also includes the following features: 1) a 18 month term, 2) a 12% interest-only note, and 3) a four point origination fee.
Accordingly, the borrower will have to contribute a $200,000 down payment plus pay a $8,000 origination fee. After the loan is closed and Sam takes the project, he will need to begin making payments each month of $2,000 to Rehabbers Funding Company ($200,000 principle x 12% / 12 months). If Sam sells the house for $560,000 after 18 months, he would earn a gross profit of $116,000 after deducting the principle amount of $200,000, the funds paid at closing of $200,000, the origination points of $8,000, and the total interest payments of $36,000. This amount doesn't include remodeling costs.
Loan Example 2
Prosper Finance makes a loan to Jeanine for a renovation project in Lead, SD. The loan includes the following:
a) A $160,000 purchase price, b) a 55% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 3% origination fee.
Jeanine plans to list the property when the note expires for $216,000. If she succeeds, the outcome will be as follows:
$216,000 sales price
- $88,000 principle (55% LTV)
- $72,000 down payment (45% on 55% LTV)
- $2,640 origination fee (3% of the $88,000 principle amount)
- $4,840 interest payments (6 months x 11% interest)
-----------------------
= $48,520 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 ...
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. ...
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. ...
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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