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Hard Money Loans in Piedmont, South Dakota
We found 13 records for private money lenders in Piedmont, SD. In this city, the mean amount loaned is $478,750. Interest rates on loans made to Piedmont borrowers average 11.6%. The mean note issued in this city is 36 months in length. The mean note includes a 3.3 point origination charge. Lenders in Piedmont average a 70% LTV on their loans.
Loan Example 1
Tom takes a hard money loan from P & J Funding Group in order to remodel a townhouse to flip in Piedmont, SD. The list price of the house is $340,000. The terms of the loan include a 50% loan to value (LTV), so he must bring 50% of the price as cash to closing, which makes the principle note amount $170,000. The loan also has the following features: 1) a 6 month term, 2) a 8% interest-only note, and 3) a three point origination charge.
Tom will have to bring $170,000 to closing (50% on the 50% loan to value), plus he will pay the $5,100 origination fee. P & J Funding Group will collect $1,133 in monthly interest payments from the Tom. This is computed by taking the full note amount of $170,000, multiplying by the 8% interest rate, and then dividing that number by 12. If Tom sells the house for $408,000 after 6 months, he would realize a gross profit of $56,100 after deducting the original principle of $170,000, the money contributed at the close of $170,000, the origination fee of $5,100, and the total interest payments of $6,800. This gross profit does not account for building costs.
Loan Example 2
Elmer finds a property in Piedmont, SD to rehab and resell. Since he does not have enough cash to buy the property outright, he takes a hard money loan from Uptown Finance Corporation with the following parameters:
a) A $310,000 sales price, b) a 50% loan to value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 1% origination fee.
After the renovation project is completed, if Elmer sells the house for $465,000, the outcome would be as follows:
$465,000 sales price
- $155,000 principle (50% LTV)
- $155,000 down payment (50% on 50% LTV)
- $1,550 origination points (1% of the $155,000 principle amount)
- $18,600 total interest paid (18 months x 8% interest)
-----------------------
= $134,850 gross 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 ...
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 ...
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. ...
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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