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Hard Money Loans in Nunda, South Dakota
A total of 13 search results for hard money lenders were found in Nunda, SD. The average amount for loans is $797,500. Interest rates on hard money loans made to Nunda borrowers average 11.3%. 25 months is the average length for loans issued in the city. The mean points charged on the loans is 2.6%. Lenders in Nunda average a 72% loan-to-value (LTV) on their loans.
Loan Example 1
North Side Finance Corporation issues a loan to Andrea for a rehab project in Nunda, SD, on a house that is listed for $270,000. The terms of the note include a 60% loan-to-value (LTV), so she must contribute 40% of the price as cash to closing, making the principle note amount $162,000. The rate on the note is 8% for a term of 18 months and the company requires a four point origination fee at closing. The interest payments are to be paid monthly and the principle will be repaid after the property sells.
In addition to paying the $6,480 origination fee, Andrea will also need to fund $108,000 of the purchase with her own cash, or 40% of the sales price. Once the deal closes, she will need to pay North Side Finance Corporation $1,080 in monthly interest payments, or 8% multiplied by $162,000 divided by 12 months in a year. At the end of the note, she sells the renovated house for $351,000. After deducting the $19,440 in total interest payments ($1,080 multiplied by 18 months), the $6,480 origination fee, the $162,000 principle on the note, and the $108,000 she brought to closing, she will make a total profit of $55,080 ($351,000 price minus $295,920 in total costs). This amount would then be reduced by any renovation costs paid by Andrea.
Loan Example 2
Valarie is a real estate investor in Nunda, SD. She buys a run-down house for a remodeling project and obtains a hard money loan from Green Square Lending Group with the following features:
$230,000 purchase price
65% loan-to-value (LTV)
18 month term
14% rate of interest
2% origination fee
Valarie intends to list the house at the end of the term for $287,500. If she achieves this goal, the final numbers will be the following:
$287,500 sales price
- $149,500 principle (65% LTV)
- $80,500 cash paid at closing (35% on 65% LTV)
- $2,990 origination fee (2% of the $149,500 principle amount)
- $31,395 total interest paid (18 months x 14% interest)
-----------------------
= $23,115 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 ...
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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