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Hard Money Loans in North Sioux City, South Dakota
There are 13 records for private money lenders serving North Sioux City, SD. Note amounts average around $509,375. Interest rates on loans made to North Sioux City borrowers average around 12.9%. 34 months is the median term for loans issued in the city. The average loan includes a 3.8 percent origination fee. The mean LTV offered for loans in North Sioux City is 70%.
Loan Example 1
Raymond finds a townhome in North Sioux City, SD to flip and sell. Since he doesn't have enough cash on-hand to buy the $340,000 house outright, he takes out a hard money loan from Progressive Lending Company. The loan-to-value (LTV) on the note is 70%. This means Raymond will have to bring 30% of the purchase price to the closing and the principle amount will be $238,000 on the loan. The rate on the note is 12% for a length of 6 months and the company requires a two point origination fee at closing. The interest payments are to be paid monthly and the principle will be paid back after the sale of the property.
Raymond will need to contribute $102,000 at closing (30% on the 70% LTV), plus he will have to pay the $4,760 origination fee. Once the loan is closed and Raymond takes the property, he will begin making monthly payments of $2,380 to the lender ($238,000 principle x 12% / 12 months). If Raymond accomplishes his goal of a $442,000 total sales price at the end of the loan term, he would earn a gross profit of $82,960 after re-paying the principle amount and subtracting the money he brought to closing, the origination points, and the monthly interest payments.
Loan Example 2
Duane takes a private money loan from Uptown Funding Corporation so he can remodel a house to resell in North Sioux City, SD. The loan has the following parameters:
$320,000 sales price
50% loan to value (LTV)
18 month term
10% interest rate
1% origination fee
Assuming a $480,000 sales price at the end of the 18 month term, the final numbers for this project would look like this:
$480,000 sales price
- $160,000 principle on note (50% LTV)
- $160,000 down payment (50% on 50% LTV)
- $1,600 origination fee (1% of the $160,000 principle amount)
- $24,000 interest payments (18 months x 10% interest)
-----------------------
= $134,400 total 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. ...
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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