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Investment Property Loans in Mitchell, South Dakota
Mitchell, SD has 12 investment property private money lenders serving the city. The average loan made is approximately $435,417. Interest rates on loans issued to Mitchell borrowers average about 9.8%. The median length for notes is 34 months. The average origination for loans is 2.0 percent. The median loan-to-value for loans in Mitchell is 71%.
Loan Example 1
Wallace wants to purchase a rental property in Mitchell, SD which is listed for $260,000. Because he doesn't have enough funds for the acquisition and can't get a loan from a bank, he takes out a hard money loan from Mountain Rock Finance Corporation. Based on a 55% loan-to-value (LTV) agreed to by the borrower and lender, Wallace will be required to fund the remaining 45% with his own cash. The other guidelines of the deal are the following: 1) a 3 year, interest-only loan, 2) a 12% interest rate, and 3) 2 origination points charged at the closing. Wallace will have to fund $117,000 of his own money at the close of the loan (based on the 55% LTV) along with the $2,860 in origination fees (2% x the $143,000 loan principle), plus he will also begin paying $1,430 per month when the deal is executed.
Loan Example 2
Howard wants to buy a rental house in Mitchell, SD which costs $370,000. Because he is short on funds for the deal and cannot secure a bank loan, he gets a private money loan from River View Lending Corporation. Howard and River View Lending Corporation agree to a 65% loan-to-value (LTV) so they will contribute 65% of the value and Howard will have to bring the other 35%. Additionally, they agree to a 2 year, interest-only loan at a 14% interest rate, with a 1% origination fee charged at closing. Based on the parameters of the deal, Howard's interest payments will be $2,806 per month. Additionally, he will be required to fund $129,500 in cash to the close plus the $2,405 origination fee. When the note expires, he will have to pay the $240,500 principle in a balloon payment.
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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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 ...
Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
Stratton Equities is the Leading Nationwide Direct Private Money & NON-QM Mortgage Lender that specializes in fast and flexible lending processes. We have the largest library of private money and NON-QM nationwide loan programs under one roof. Our team is ...
New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
New Silver is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get ...
REI Capital
5660 Strand Court
Naples, FL 34110
REI Niche Programs - CA NO appraisal 1st position loans - 65% LTV; 2nd position loans - 60% CLTV, NO minimum FICO, Defaults, foreclosure bail-outs, and bankruptcies OK, 6 mo prepay, cross multiple properties, Rural lower LTVs on a case-by-case ...
Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
Redmond, WA 98052
Velocity Mortgage Capital is a wholesale, nationwide lender for asset-based, investment real estate, lending since 2004. We never look at the tax returns or personal income statements of our borrowers. Instead, our focus is the income producing potential of the ...
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. ...
Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
Gokapital, Inc. is a Miami, FL based private lender who provides funding all throughout the US.Providing lending solutions for a variety of situations, including loans for rental properties, cash out, hard money loans, fix-and-flip loans, hard money loans for commercial ...
Aegis Funding
2100 Main Street, suite 265
Huntington Beach, CA 92648
Aegis Funding is hard money lender based in Huntington Beach, CA. They provide loans throughout California. They offer lending solutions for a variety of needs and situations, including fix and flip loans and long term rental property loans. They issue ...
Lend Some Money
42 Thompson Street, Suite 1A
East Haven, CT 06513
Lend Some Money is a national private lender that makes hard money commercial loans for the refinance or purchase of non-owner-occupied residential and mixed-use commercial properties. Its industry-leading technology platform allows it to provide real estate investors and brokers ...
Money Source of America
4446 Hendricks
Jacksonville, FL 32207
Money Source of America is a Jacksonville, FL based private lender. They provide funding throughout the United States. They offer long term rental property loans, fix-and-flip loans, cash out hard money loans, ground-up construction loans, hard money bridge ...
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