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Hard Money Loans in Yankton, South Dakota
Yankton, SD has 13 private money lenders operating within the city. The average note made to borrowers is approximately $597,500. The average rate for hard money loans in Yankton is 11.7%. The typical note issued in the city is for 19 months. The average loan issued in this city carries a 1.7 point origination charge. 69% is the median loan to value (LTV) for for loans in Yankton.
Loan Example 1
Bernadette closes on a $180,000 renovation project in Yankton, SD, using a private money loan from South Star Investments. The terms of the loan include a 55% loan to value (LTV), so she must contribute 45% of the price as cash to closing, making the principle note amount $99,000. The terms of the note also include a three percent origination fee that is to be paid at closing and a 12 month, interest-only note with a 12% interest rate.
By the parameters of the loan, Bernadette will have to pay a $2,970 origination fee plus 45% of the purchase price, or $81,000, based on the 55% LTV. she will then pay $990 per month to the lender. At the expiration of the note, she sells the rehabed property for $261,000. After subtracting the $11,880 in total interest payments ($990 times 12 months), the $2,970 origination fee, the $99,000 principle on the note, and the $81,000 she brought to closing, she will earn a gross profit of $66,150 ($261,000 sales price minus $194,850 in total costs). This amount would be reduced by any building costs paid by Bernadette.
Loan Example 2
Adrian locates a duplex in Yankton, SD to rehab and sell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Riverside Lending with the following parameters:
$400,000 purchase price
60% loan to value (LTV)
6 month term
13% interest rate
2% origination fee
Adrian plans to sell the house at the end of the term for $540,000. If he accomplishes his goal, the outcome will be the following:
$540,000 sales price
- $240,000 note principle (60% LTV)
- $160,000 cash paid at closing (40% on 60% LTV)
- $4,800 origination points (2% of the $240,000 principle)
- $15,600 total interest paid (6 months x 13% interest)
-----------------------
= $119,600 gross profit (doesn't 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 ...
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 ...
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. ...
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 ...
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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