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Hard Money Loans in Sioux Falls, South Dakota
We found 13 results for private money lenders serving Sioux Falls, SD. Note amounts average about $542,500. The median rate for hard money loans in Sioux Falls is 10.1%. 48 months is the median length for loans made in this city. The average points applied to loans is 3.0%. The typical loan to value (LTV) offered for loans in Sioux Falls is 70%.
Loan Example 1
Monique takes a loan from Flippers Lending Group in order to remodel a duplex to flip in Sioux Falls, SD. The list price of the house is $320,000. The loan to value (LTV) on the loan is 60%. This means that Monique will bring 40% of the purchase price to closing and the principle amount will be $192,000 on the deal. The parameters of the deal dictate a 11% note for 6 months. They also require a 5 point origination fee, which will also have to be paid at closing.
Monique will have to contribute $128,000 to the closing (40% on the 60% loan-to-value), plus she will have to pay the $9,600 origination fee. The monthly interest-only payments will then be $1,760 to the lender. If she sells the renovated project for $464,000 at the end of the 6 month term, her total profit (not accounting for remodeling costs) would be $123,840. This is computed by taking the purchase price ($464,000) and subtracting the original note amount ($192,000), the origination cost ($9,600), the funds she contributed to closing ($128,000), and the total interest expenses ($10,560).
Loan Example 2
West Shore Funding Group issues a private money loan to Sandy for a remodeling project in Sioux Falls, SD. The deal dictates the following:
a) A $310,000 sales price, b) a 70% loan-to-value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 1% origination fee.
If Sandy achieves her goal of a $418,500 sales price, the numbers of the project will be the following:
$418,500 sales price
- $217,000 note principle (70% LTV)
- $93,000 down payment (30% on 70% LTV)
- $2,170 origination fee (1% of the $217,000 principle)
- $8,680 interest payments (6 months x 8% interest)
-----------------------
= $97,650 total 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 ...
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 ...
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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