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Hard Money Loans in Trent, South Dakota
Trent, SD has 13 hard money lenders offering loans in the city. In this city, the average loan amount is $544,318. Interest rates for hard money loans average around 11.2%. 36 months is the average term for notes issued in the city. The average loan includes a 3.7 point origination fee. 70% is the median loan-to-value (LTV) for offered by lenders in Trent.
Loan Example 1
Grace takes a private money loan from West End Investments in order to remodel a property to flip in Trent, SD. The price of the house is $290,000. The lender agrees to write a loan with a 50% loan-to-value (LTV) so they are willing to extend $145,000 on the house. The deal also consists of these features: 1) a 6 month term, 2) a 8% interest only note, and 3) a three percent origination charge.
Therefore, the borrower will be required to contribute a $145,000 down payment plus pay a $4,350 origination fee. she will then pay $967 monthly to the lender. At the expiration of the loan, she sells the rehabed house for $362,500. After deducting the $5,800 in total interest payments ($967 times 6 months), the $4,350 origination fee, the $145,000 principle amount on the loan, and the $145,000 she contributed to closing, she will make a total profit of $62,350 ($362,500 sales price minus $300,150 in total costs). This profit would be reduced by any rehab costs paid by Grace.
Loan Example 2
Paige finds a townhouse in Trent, SD to rehab and resell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Trust Investments with the following parameters:
$360,000 purchase price
85% loan-to-value (LTV)
12 month term
12% interest rate
4% origination fee
If Paige accomplishes her goal of a $504,000 sales price, the outcome of the deal would be as follows:
$504,000 sales price
- $306,000 principle on note (85% LTV)
- $54,000 down payment (15% on 85% LTV)
- $12,240 origination points (4% of the $306,000 principle amount)
- $36,720 interest payments (12 months x 12% interest)
-----------------------
= $95,040 gross profit (does not 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 ...
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 ...
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 ...
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. ...
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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