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Hard Money Loans in Vermillion, South Dakota
A total of 13 results for private money lenders were found in Vermillion, SD. The average loan amount is $461,364. Rates on loans made to Vermillion borrowers average about 10.8%. The average loan issued in this city is 21 months in length. The mean origination fee for loans is 3.2 points. The median loan to value offered for loans in Vermillion is 73%.
Loan Example 1
Latonya takes a loan from Blue Mountain Lending Corporation in order to remodel a property to resale in Vermillion, SD. The sales price of the property is $280,000. Because the lender sets a 55% loan to value, Latonya will be required to put 45% down and the principle amount of the loan will be $154,000. The terms of the note also include a three point origination fee that will be paid at the closing and a 12 month, interest only note with a 13% interest rate.
The borrower will have to contribute a total of $32,400 up front to cover the $126,000 down payment plus the $4,620 origination fee. Blue Mountain Lending Corporation will collect $1,668 in monthly interest from the borrower. This is calculated by taking the total loan amount of $154,000, multiplying by the 13% interest rate, and then dividing that number by 12. If Latonya sells the property for $392,000 after 12 months, she would then make a gross profit of $87,360 after deducting the principle of $154,000, the money paid at closing of $126,000, the origination fee of $4,620, and the total interest payments of $20,020. This amount doesn't include building costs.
Loan Example 2
Duane is a an investor in Vermillion, SD. He locates an older property for a rehab project and obtains a private money loan from Flourish Finance Corporation with the following paramters:
a) A $240,000 sales price, b) a 55% loan to value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 5% origination fee.
Duane intends to list the project at the end of the term for $312,000. If he succeeds, the deal numbers will be the following:
$312,000 sales price
- $132,000 principle on note (55% LTV)
- $108,000 down payment (45% on 55% LTV)
- $6,600 origination fee (5% of the $132,000 principle)
- $5,940 total interest paid (6 months x 9% interest)
-----------------------
= $59,460 gross profit (doesn't include taxes or renovation 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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