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New Construction Loans in Baltic, South Dakota
Baltic, SD has 13 construction hard money lenders offering loans within the city. The average amount for loans is $500,000. Rates on private loans made to Baltic investors average around 10.7%. The mean loan issued in this city has a term of 16 months. The mean origination fee for loans is 2.8 points. Lenders in Baltic average a 75% LTV on their deals.
Loan Example 1
Jaime is an investor who decides to buy a land lot in Baltic, SD and construct a tri-plex. Along with the $310,000 cost of the lot, Jaime thinks she will need around $350,000 in building expenses to finish the house. Green Square Funding Corporation issues a 65% loan-to-value (LTV) new construction loan to Jaime so she can pay for the deal. They also agree to a 12% rate of interest for 12 months in addition to a 5 point origination fee. There are no pre-payment penalties on the note and building expenses will be paid out in several draws. Given this deal scenario, Jaime will need to contribute the following expenses: 1) $231,000 cash down (by the 65% LTV), 2) a $21,450 origination fee ($429,000 principle x 5%), and 3) $4,290 monthly interest payments. If Jaime sells the project for $950,000 she will earn a gross profit of $217,070 after repaying the principle amount and subtracting the origination points and cumulative interest.
Loan Example 2
Lana is a builder and wants to build a duplex on a lot in Baltic, SD. She obtains a new construction loan from Superior Investment Corporation with the following terms:
- $230,000 purchase price for the land
- $350,000 in building costs
- 75% loan to value (LTV)
- 12 month length
- 9% interest rate
- 4% origination fee
If Lana succeeds in her goal of a $690,000 sale, the final numbers of the project will be as follows:
$690,000 sales price
- $435,000 loan principle (75% LTV)
- $145,000 cash paid at closing (25% on 75% LTV)
- $17,400 origination points (4% of the $435,000 principle amount)
- $39,150 interest payments (12 months x 9% interest)
-----------------------
= $53,450 total profit
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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 ...
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. ...
Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
We lend to all different kinds of real estate investors, whether you are an expert or a novice. We provide funding for building from the ground up, fix-and-flip projects, and a range of single- and multi-family rental loans. Start your ...
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 ...
Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
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 ...
Primeau Funding
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...
Creative Hard Money LLC
508 Whitehorse Mercerville Rd
Hamilton, NJ 08610
Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States. They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...
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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