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Investment Property Loans in Sturgis, South Dakota
Sturgis, SD has 12 investment property hard money lenders operating within the city. The median loan amount in this city is $588,611. Interest rates for private loans average around 7.9%. The typical length offered for notes is 60 months. The average loan includes a 2.1 percent origination fee. Lenders offer on average a 74% LTV on hard money loans in Sturgis.
Loan Example 1
Johnson Lending Company makes a private loan to Anna, a local investor in Sturgis, SD who has decided to purchase a $220,000 rental house. Since there is a 70% loan to value (LTV) contracted to by the lender and borrower, Anna will need to put down the other 30% with her own cash. According to the terms of the deal, the note is for 4 years at 12% interest. An origination fee of 2% will have to be paid when the deal closes and Anna will have to make interest-only payments with a balloon payment of the principle amount due at the end of the deal. According to this deal, Anna will have to make these payments: 1) $66,000 down when the loan closes (based on the 70% LTV), 2) a $3,080 origination fee (2% x the $154,000 loan principle), and 3) $1,540 per month in interest payments.
Loan Example 2
Trina wants to buy a rental property in Sturgis, SD which costs $170,000. Since she doesn't have enough funds for the acquisition and cannot obtain a loan from a bank, she takes out a hard money loan from East Star Finance Corporation. Trina and East Star Finance Corporation contract to a 80% loan-to-value (LTV) so they will loan 80% of the sales price and Trina will be responsible for the other 20%. The additional terms of the loan are the following: 1) a 1 year, interest only loan, 2) a 13% rate of interest, and 3) a 5 point origination fee paid when the deal closes. Given this deal, Trina will have to make these payments: 1) $34,000 down when the loan closes (due to the 80% LTV), 2) a $6,800 origination fee (5% x $136,000 principle), and 3) $1,473 monthly in interest payments.
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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