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Hard Money Loans in Volga, South Dakota
We found 13 search results for private money lenders operating in Volga, SD. The mean note amount is $493,334. Interest rates for private loans average 10.2%. The average term offered for loans is 26 months. The average loan includes a 4.0 percent origination fee. Lenders typically offer a 70% loan to value on deals in Volga.
Loan Example 1
Haley is a house flipper in Volga, SD. She finds a run-down property for sale and decides to renovate it and resell it for a profit. The house costs $320,000 but she doesn't have the full amount so she takes a hard money loan with Rising Sun Funding Group. The loan-to-value (LTV) on the deal is 70%. This means Haley will need to bring 30% of the sales price to the closing and the principle will be $224,000 on the loan. The parameters of the loan also include a four point origination fee which is to be paid at the closing and a 6 month, interest only note with a 10% rate of interest.
On top of the $8,960 origination fee, Haley will also fund $96,000 of the purchase with her own cash, or 30% of the sales price. she must then pay $1,867 per month to the lender. At the end of the loan, she sells the renovated house for $400,000. After deducting the $11,200 in interest payments ($1,867 times 6 months), the $8,960 origination fee, the $224,000 principle on the loan, and the $96,000 she contributed to the closing, she will earn a gross profit of $59,840 ($400,000 price minus $340,160 in total costs). This profit would be reduced by any rehab costs paid by Haley.
Loan Example 2
Gail is a an investor in Volga, SD. She locates an older townhouse for a remodeling project and takes a private money loan from East Side Finance Corporation with the following paramters:
$280,000 sales price
75% loan to value (LTV)
18 month term
14% rate of interest
2% origination fee
If Gail accomplishes her goal of a $378,000 sales price, the outcome of the deal will be the following:
$378,000 sales price
- $210,000 principle (75% LTV)
- $70,000 down payment (25% on 75% LTV)
- $4,200 origination points (2% of the $210,000 principle amount)
- $44,100 total interest paid (18 months x 14% interest)
-----------------------
= $49,700 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 ...
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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