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Hard Money Loans in Wolsey, South Dakota
Wolsey, SD has 13 hard money lenders operating in the city. The mean amount loaned in this city is $379,000. The mean interest rate for private loans in Wolsey is 10.3%. 22 months is the mean length for notes issued in this city. The average origination for the loans is 2.6 percent. The typical loan to value offered for loans in Wolsey is 70%.
Loan Example 1
Steven closes on a $190,000 renovation project in Wolsey, SD, using a private money loan from Investors Lending Company. The borrower will be required to contribute 50% of the sales price in cash to the closing based on a 50% loan-to-value stipulated by the lending company. This makes the principle amount from Investors Lending Company $95,000. The loan is interest only, with monthly payments, and is for 12 months at 10% interest with 4 origination points to be paid at closing.
By the parameters of the loan, Steven will be required to pay a $3,800 origination fee plus 50% of the sales price, or $95,000, based on the 50% LTV. The monthly interest only payments will then total $792 to Investors Lending Company. Steven's plan is to complete the rehab within the 12 months and resell it for $275,500. If he succeeds he will collect a profit of $72,200 ($275,500 sales price - $95,000 principle amount - $95,000 cash at closing - $3,800 origination fee - $9,500 in total interest.
Loan Example 2
Allan is a an investor in Wolsey, SD. He purchases an older house for a renovation project and takes out a private money loan from Perfect Funding Company with the following paramters:
$320,000 purchase price
65% loan to value (LTV)
6 month term
9% rate of interest
1% origination fee
Allan intends to sell the house at the end of the term for $480,000. If he achieves this goal, the outcome would be as follows:
$480,000 sales price
- $208,000 principle on note (65% LTV)
- $112,000 cash paid at closing (35% on 65% LTV)
- $2,080 origination fee (1% of the $208,000 principle)
- $9,360 interest payments (6 months x 9% interest)
-----------------------
= $148,560 gross profit (does not include taxes or rehab 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 ...
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. ...
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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