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Hard Money Loans in Parkston, South Dakota
There are 13 search results for hard money lenders serving Parkston, SD. The mean amount loaned in the city is $576,111. The mean rate for hard money loans in Parkston is 9.6%. 20 months is the mean term for loans made in this city. The average origination for loans is 2.3 points. The typical loan-to-value for loans in Parkston is 69%.
Loan Example 1
Anthony closes on a $240,000 rehab project in Parkston, SD, using a hard money loan from Brown Finance. The terms of the loan include a 65% loan-to-value (LTV), so he must contribute 35% of the price as cash to closing, making the principle note amount $156,000. The note is interest only, with monthly payments, and is for 12 months at 14% interest with 2 points to be paid at the closing.
Anthony must bring a total of $32,400 up front to cover the $84,000 down payment plus the $3,120 origination fee. Brown Finance will collect $1,820 in monthly interest from the Anthony. This is calculated by taking the full note amount of $156,000, multiplying by the 14% interest rate, and then dividing that amount by 12. Assuming Anthony sells the remodeled project for $312,000 at the end of the 12 month term, his gross profit (not including renovation expenses) would be $47,040. This is calculated by taking the purchase price ($312,000) and subtracting the original note amount ($156,000), the origination fee ($3,120), the funds he contributed to closing ($84,000), and the total interest payments ($21,840).
Loan Example 2
Imogene locates a house in Parkston, SD to remodel and sell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Oak Hill Investments with the following parameters:
$380,000 sales price
60% loan to value (LTV)
6 month term
8% rate of interest
3% origination fee
Imogene plans to list the house when the note expires for $513,000. If she succeeds, the final numbers will be as follows:
$513,000 sales price
- $228,000 principle on note (60% LTV)
- $152,000 down payment (40% on 60% LTV)
- $6,840 origination points (3% of the $228,000 principle)
- $9,120 total interest paid (6 months x 8% interest)
-----------------------
= $117,040 total profit (does not 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 ...
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 ...
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. ...
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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