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Hard Money Loans in Tea, South Dakota
There are 13 search results for private money lenders serving Tea, SD. Note amounts average about $300,909. Rates for hard money loans average 10.3%. The typical loan made in the city has a length of 25 months. The average origination percentage charged for the loans is 2.8%. Lenders typically offer a 70% loan-to-value on loans in Tea.
Loan Example 1
Top Dog Funding Group issues a private money loan to Ila for a renovation project in Tea, SD, on a house that is listed for $160,000. Since the lender sets a 55% loan to value, Ila will need to put 45% down so the principle amount of the note will be $88,000. The note is interest only, with monthly payments, and is for 18 months at 14% interest with 5 points paid at closing.
According to the parameters of the note, Ila will be required to pay a $4,400 origination fee in addition to 45% of the purchase price, or $72,000, based on the 55% LTV. After the loan closes, she will have to pay Top Dog Funding Group $1,027 in monthly interest payments, or 14% multiplied by $88,000 divided by 12 months in the year. If Ila achieves her goal of a $192,000 sales price when the loan expires, she would collect a total profit of $9,120 after re-paying the principle amount and deducting the money she contributed at closing, the origination fee, and the total interest payments.
Loan Example 2
Andrew is a real estate investor in Tea, SD. He buys an older house for a rehab project and takes out a hard money loan from Trust Funding Corporation with the following paramters:
$380,000 purchase price
75% loan-to-value (LTV)
6 month term
10% interest rate
5% origination fee
Once the rehab project is complete, if Andrew sells the project for $551,000, the final numbers would be the following:
$551,000 sales price
- $285,000 principle on note (75% LTV)
- $95,000 cash paid at closing (25% on 75% LTV)
- $14,250 origination fee (5% of the $285,000 principle)
- $14,250 total interest paid (6 months x 10% interest)
-----------------------
= $142,500 gross profit (does not include taxes or rehab 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 ...
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 ...
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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