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Hard Money Loans in Renner, South Dakota
A total of 13 records for private money lenders were found in Renner, SD. The mean note made to borrowers is around $371,875. The mean interest rate for loans in Renner is 10.9%. The mean term offered for loans is 20 months. The average origination for the loans is 3.0 points. The median loan to value offered for loans in Renner is 71%.
Loan Example 1
Zelma is a house flipper in Renner, SD. She discovers an older property for sale and decides to renovate it and resell it for a profit. The property has a cost of $320,000 but she does not have the full amount so she takes out a hard money loan with USA Investments. The terms of the note include a 60% loan to value (LTV), so she must contribute 40% of the price as cash at closing, making the principle note amount $192,000. The interest rate on the note is 9% for a term of 18 months and the company requires a one point origination fee at closing. The interest is to be paid on a monthly basis and the principle will be paid back after the property sells.
Therefore, the borrower will have to make a $128,000 down payment in addition to paying a $1,920 origination fee. Once the loan is closed and Zelma takes on the project, she will have to begin making monthly payments of $1,440 to USA Investments ($192,000 principle x 9% / 12 months). If Zelma sells the property for $384,000 after 18 months, she would then earn a gross profit of $36,160 after deducting the original principle of $192,000, the cash contributed at the close of $128,000, the origination fee of $1,920, and the total interest payments of $25,920. This gross profit does not include building costs.
Loan Example 2
Pedro finds a property in Renner, SD to remodel and re-sell. Since he does not have enough cash to buy the property outright, he takes a hard money loan from Red Oak Finance Corporation with the following parameters:
$290,000 sales price
65% loan to value (LTV)
12 month term
14% rate of interest
2% origination fee
Based on a $377,000 sales price at the end of the 12 month term, the outcome for this project would look like the following:
$377,000 sales price
- $188,500 loan principle (65% LTV)
- $101,500 cash paid at closing (35% on 65% LTV)
- $3,770 origination fee (2% of the $188,500 principle)
- $26,390 interest payments (12 months x 14% interest)
-----------------------
= $56,840 total 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 ...
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. ...
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 ...
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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