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Hard Money Loans in Tulare, South Dakota
Tulare, SD has 13 private money lenders operating in the city. The average note issued to borrowers is around $529,167. Interest rates for loans average 10.9%. The typical term for loans is 19 months. The mean origination fee for loans is 2.7 percent. The mean LTV for loans in Tulare is 71%.
Loan Example 1
Flourish Finance issues a loan to Naomi for a renovation project in Tulare, SD, on a property that is listed for $290,000. Since the lender sets a 55% loan to value, Naomi will be required to put 45% down so the amount of the note will be $159,500. The terms of the loan also stipulate a three percent origination fee which is to be paid at closing and a 12 month, interest-only note with a 10% rate of interest.
Naomi will need to bring $130,500 to closing (45% on the 55% LTV), plus she will pay the $4,785 origination fee. she will then pay $1,329 per month to the lender. If Naomi sells the remodeled house for $348,000 at the end of the 12 month term, her gross profit (not accounting for rehab expenses) would be $37,265. This is computed by taking the sales price ($348,000) and subtracting the original principle ($159,500), the origination fee ($4,785), the funds she contributed to closing ($130,500), and the total interest expenses ($15,950).
Loan Example 2
Dale locates a property in Tulare, SD to remodel and sell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Assurance Funding with the following parameters:
$200,000 purchase price
75% loan-to-value (LTV)
12 month term
8% rate of interest
4% origination fee
Dale plans to list the house when the note expires for $290,000. If he accomplishes his goal, the outcome will be as follows:
$290,000 sales price
- $150,000 principle on note (75% LTV)
- $50,000 down payment (25% on 75% LTV)
- $6,000 origination points (4% of the $150,000 principle amount)
- $12,000 interest payments (12 months x 8% interest)
-----------------------
= $72,000 total 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 ...
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 ...
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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