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Hard Money Loans in Lyons, South Dakota
Lyons, SD has 13 private money lenders in the city. In this city, the mean amount for loans is $387,500. Interest rates for hard money loans average about 11.1%. The mean loan issued in the city is 73 months in length. The mean origination for loans is 2.0 points. Lenders offer on average a 69% LTV on loans in Lyons.
Loan Example 1
Katharine takes a private money loan from Friendly Finance Corporation in order to rehab a house to flip in Lyons, SD. The price of the property is $400,000. The lender agrees to write a loan with a 70% loan to value (LTV) so they are willing to extend $280,000 on the house. The interest rate on the note is 12% for a term of 6 months and the lender requires a two point origination fee at closing. The interest is to be paid on a monthly basis and the principle amount will be returned after the sale of the property.
Katharine will have to bring $120,000 to the closing (30% on the 70% LTV), plus she will need to pay the $5,600 origination fee. After the deal is closed and Katharine takes the project, she will have to begin making monthly payments of $2,800 to Friendly Finance Corporation ($280,000 principle x 12% / 12 months). If Katharine sells the house for $600,000 after 6 months, she would then make a total profit of $177,600 after deducting the principle of $280,000, the cash paid at the close of $120,000, the origination points of $5,600, and the total interest payments of $16,800. This profit does not include renovation costs.
Loan Example 2
Prime Time Lending Company issues a hard money loan to Ruby for a renovation project in Lyons, SD. The loan dictates the following:
a) A $290,000 sales price, b) a 75% loan to value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 2% origination fee.
Based on a $362,500 sales price after the 6 month term, the outcome for the project would look like the following:
$362,500 sales price
- $217,500 loan principle (75% LTV)
- $72,500 down payment (25% on 75% LTV)
- $4,350 origination fee (2% of the $217,500 principle)
- $11,963 total interest paid (6 months x 11% interest)
-----------------------
= $56,188 total profit (does not include taxes or rehab 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 ...
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 ...
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 ...
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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