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Hard Money Loans in Vienna, South Dakota
Vienna, SD has 13 private money lenders serving the city. Note amounts average about $341,750. Interest rates on hard money loans issued to Vienna borrowers average 10.6%. The average length offered for loans is 36 months. The mean origination for the loans is 3.6 points. Lenders in Vienna average a 70% loan to value on their loans.
Loan Example 1
North Side Finance Company makes a private money loan to Rosemarie for a renovation project in Vienna, SD, on a property that costs $260,000. The loan-to-value (LTV) on the note is 70%. This means that Rosemarie will bring 30% of the purchase price to closing and the principle amount will be $182,000 on the deal. The parameters of the deal also stipulate a three percent origination fee which will be paid at closing and a 12 month, interest-only note with a 13% interest rate.
In addition to paying the $5,460 origination fee, Rosemarie will also fund $78,000 of the purchase with her own money, or 30% of the purchase price. North Side Finance Company will collect $1,972 in monthly interest from the borrower. This is computed by taking the total note amount of $182,000, multiplying by the 13% interest rate, and then dividing that number by 12. If Rosemarie achieves her goal of a $351,000 total sales price at the end of the loan term, she would make a gross profit of $61,880 after re-paying the principle and deducting the cash she brought to closing, the origination fee, and the total monthly interest payments.
Loan Example 2
USA Lending issues a loan to Deanna for a renovation project in Vienna, SD. The deal includes the following:
a) A $190,000 purchase price, b) a 55% loan-to-value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 2% origination fee.
Deanna plans to list the project at the end of the term for $275,500. If she achieves this goal, the deal numbers will be as follows:
$275,500 sales price
- $104,500 principle (55% LTV)
- $85,500 down payment (45% on 55% LTV)
- $2,090 origination points (2% of the $104,500 principle amount)
- $15,675 total interest paid (18 months x 10% interest)
-----------------------
= $67,735 gross profit (doesn't 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 ...
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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