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Hard Money Loans in Parker, South Dakota
Parker, SD has 13 lenders operating within the city. The mean loan made is approximately $484,375. The mean rate for private loans in Parker is 10.6%. The typical term for notes is 22 months. A typical hard money loan offered in the city includes a 3.3 point origination charge. 70% is the typical LTV for offered by lenders in Parker.
Loan Example 1
Shawn takes a loan from Easy Brook Finance Company in order to rehab a townhouse to resale in Parker, SD. The price of the property is $180,000. The borrower will have to bring 20% of the sales price in cash to the closing based on a 80% loan-to-value stipulated by the lending company. This makes the principle amount from Easy Brook Finance Company $144,000. The loan is interest-only, with monthly payments, and is for 6 months at 9% interest with 3 points paid at the closing.
Shawn will have to contribute a total of $32,400 upon closing to cover the $36,000 down payment in addition to the $4,320 origination fee. he will then pay $1,080 monthly to the lender. At the expiration of the note, he sells the renovated property for $270,000. After subtracting the $6,480 in interest expenses ($1,080 multiplied times 6 months), the $4,320 origination fee, the $144,000 principle amount on the note, and the $36,000 he contributed to the closing, he will earn a total profit of $79,200 ($270,000 sales price minus $190,800 in costs). This amount would then be reduced by any rehab costs paid by the borrow.
Loan Example 2
Cecil finds a duplex in Parker, SD to renovate and resell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Rolling Brook Lending with the following parameters:
a) A $220,000 purchase price, b) a 75% loan-to-value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 3% origination fee.
Cecil intends to sell the house at the end of the term for $264,000. If he accomplishes his goal, the outcome will be as follows:
$264,000 sales price
- $165,000 loan principle (75% LTV)
- $55,000 down payment (25% on 75% LTV)
- $4,950 origination fee (3% of the $165,000 principle amount)
- $7,425 total interest paid (6 months x 9% interest)
-----------------------
= $31,625 gross profit (does not include taxes or renovation 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 ...
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. ...
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 ...
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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