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Hard Money Loans in Newell, South Dakota
There are 13 results for private money lenders operating in Newell, SD. In this city, the average amount for loans is $366,667. Rates on hard money loans made to Newell investors average around 10.4%. The mean length offered for loans is 23 months. A typical hard money loan issued in this city carries a 9.1 percent origination charge. The average loan-to-value (LTV) offered for loans in Newell is 69%.
Loan Example 1
Progressive Investment Company issues a private money loan to Bruce for a remodeling project in Newell, SD, on a house that costs $340,000. The borrower will have to bring 15% of the sales price in cash to the closing based on a 85% loan to value set by the lender. This makes the principle note from Progressive Investment Company $289,000. The parameters of the loan also stipulate a five percent origination fee that will be paid at the closing and a 6 month, interest-only note with a 9% interest rate.
Therefore, the borrower will have to contribute a $51,000 down payment in addition to paying a $14,450 origination fee. Progressive Investment Company will collect $2,168 in monthly interest from the Bruce. This is calculated by taking the total loan value of $289,000, multiplying by the 9% interest rate, and then dividing that number by 12. If Bruce achieves his goal of a $459,000 sales price when the loan expires, he would pocket a gross profit of $91,545 after repaying the principle on the note and subtracting the cash he contributed at closing, the origination points, and the total monthly interest payments.
Loan Example 2
Marian locates a property in Newell, SD to rehab and re-sell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Trust Funding Group with the following parameters:
$350,000 purchase price
85% loan-to-value (LTV)
6 month term
12% interest rate
5% origination fee
Once the renovation project is completed, if Marian sells the property for $437,500, the outcome would be as follows:
$437,500 sales price
- $297,500 principle on note (85% LTV)
- $52,500 down payment (15% on 85% LTV)
- $14,875 origination fee (5% of the $297,500 principle amount)
- $17,850 total interest paid (6 months x 12% interest)
-----------------------
= $54,775 total 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 ...
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. ...
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. ...
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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