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Hard Money Loans in Wahpeton, North Dakota
We found 19 results for private money lenders serving Wahpeton, ND. In this city, the mean note amount is $282,143. The mean interest rate for private loans in Wahpeton is 10.1%. The mean loan issued in this city has a term of 36 months. The mean origination fee for loans is 4.5 points. Lenders in Wahpeton average a 71% loan to value (LTV) on their deals.
Loan Example 1
Zelma is a house flipper in Wahpeton, ND. She discovers an older property for sale and decides to renovate it and resell it for a profit. The property has a cost of $320,000 but she does not have the full amount so she takes out a hard money loan with USA Investments. The terms of the note include a 60% loan to value (LTV), so she must contribute 40% of the price as cash at closing, making the principle note amount $192,000. The interest rate on the note is 9% for a term of 18 months and the company requires a one point origination fee at closing. The interest is to be paid on a monthly basis and the principle will be paid back after the property sells.
Therefore, the borrower will have to make a $128,000 down payment in addition to paying a $1,920 origination fee. Once the loan is closed and Zelma takes on the project, she will have to begin making monthly payments of $1,440 to USA Investments ($192,000 principle x 9% / 12 months). If Zelma sells the property for $384,000 after 18 months, she would then earn a gross profit of $36,160 after deducting the original principle of $192,000, the cash contributed at the close of $128,000, the origination fee of $1,920, and the total interest payments of $25,920. This gross profit does not include building costs.
Loan Example 2
Marjorie finds a townhouse in Wahpeton, ND to remodel and resell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Advanced Finance Corporation with the following parameters:
$180,000 sales price
60% loan to value (LTV)
12 month term
9% interest rate
5% origination fee
Assuming a $270,000 sales price after the 12 month term, the numbers for the deal would look like the following:
$270,000 sales price
- $108,000 principle on note (60% LTV)
- $72,000 cash paid at closing (40% on 60% LTV)
- $5,400 origination points (5% of the $108,000 principle amount)
- $9,720 interest payments (12 months x 9% interest)
-----------------------
= $74,880 gross profit (doesn't include taxes or rehab costs)
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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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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
With more than $21B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors (REIs). Kiavi harnesses the power of data & technology to offer REIs a simpler, more reliable, and faster way ...
Next-Financing
6991 E Camelback Rd
Scottsdale, AZ 85251
Next-Financing is based in Scottsdale, Arizona and has a satellite office in Silicon Valley, California. They offer a wide array of financing options for businesses, including fix and flip loans and loans for rental properties. They lend on ...
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 ...
COGO Capital
1121 E. Mullan Ave
Coeur d'Alene, IA 83814
Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
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 ...
Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
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. ...
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. ...
Rental Home Financing
9465 Counselors Way, Suite 200
Indianapolis, IN 46240
Rental Home Financing is a private money lender headquartered in Indianapolis, IN offering funding in 26 states across the country. They provide lending solutions for a variety of scenarios, including refinancing, fix-and-flip loans, and loans for investments properties. ...
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