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Hard Money Loans in Toronto, South Dakota
Toronto, SD has 13 private money lenders offering loans within the city. Loan amounts average about $1,034,375. Interest rates for loans average 11.1%. The median term for loans is 22 months. The mean origination fee applied to the loans is 3.1%. 71% is the average loan to value for offered by lenders in Toronto.
Loan Example 1
Cordial Lending Company makes a hard money loan to Dorothea for a renovation project in Toronto, SD, on a house that is listed for $380,000. The lender agrees to issue a note with a 85% loan to value (LTV) so they will loan $323,000 on the house. The terms of the note also stipulate a two point origination fee which is to be paid at closing and a 6 month, interest only note with a 14% rate of interest.
Dorothea will have to contribute $57,000 at closing (15% on the 85% loan to value), plus she will pay the $6,460 origination fee. The monthly interest-only payments will then total $3,768 to the lender. If Dorothea meets her goal of a $532,000 total sales price when the loan term expires, she would make a gross profit of $122,930 after re-paying the principle on the note and deducting the money she contributed at closing, the origination points, and the monthly interest payments.
Loan Example 2
Todd is a real estate investor in Toronto, SD. He finds a run-down property for a renovation project and obtains a hard money loan from Blue Square Funding with the following paramters:
a) A $280,000 purchase price, b) a 65% loan to value (LTV), c) a 18 month term, d) a 9% interest rate, and e) a 4% origination fee.
If Todd achieves his goal of a $420,000 sales price, the outcome of the deal will be the following:
$420,000 sales price
- $182,000 loan principle (65% LTV)
- $98,000 down payment (35% on 65% LTV)
- $7,280 origination points (4% of the $182,000 principle amount)
- $24,570 interest payments (18 months x 9% interest)
-----------------------
= $108,150 gross profit (doesn't 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 ...
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. ...
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. ...
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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