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New Construction Loans in Belcourt, North Dakota
Belcourt, ND has 14 construction private money lenders serving the city. The average note amount is $1,375,000. The average interest rate for private loans in Belcourt is 10.5%. The median length offered for loans is 15 months. The average loan issued in this city carries a 10.3 point origination charge. Lenders offer on average a 75% loan to value on deals in Belcourt.
Loan Example 1
Jonathan is a real estate investor in Belcourt, ND. He decides to acquire a vacant lot and build a new house. Along with the $320,000 price of the lot, Jonathan estimates he will have about $250,000 in construction expenses to build the house. He takes out a construction loan from Axis Investment Corporation with these parameters: 1) a 12 month note at 8% interest, 2) interest only payments made monthly, 3) 4 origination points paid at closing by the borrower, and 4) a 50% loan to value (LTV) on both the plot and the construction expenses. Building fees will be paid in draws and there will be no pre-payment penalties assessed. The borrower will need to pay $1,900 per month in note payments on top of $285,000 down, plus a $11,400 origination fee at closing. After subtracting all expenses, Jonathan will make a $75,800 total profit if he succeeds in his goal of a $680,000 sales price.
Loan Example 2
Morris is a real estate investor in Belcourt, ND. He wants to buy a lot and build a new single family home. In order to fund the transaction, he applies for a construction loan from Mountain Rock Lending with the following specifications:
a) A $210,000 sales price for the vacant plot, b) $200,000 in building costs, c) an 60% loan-to-value (LTV), d) a 12 month length, e) a 9% interest rate, and f) a 3% origination charge.
After the building project is finished, if Morris lists the property for $490,000, the final numbers will be the following:
$490,000 sales price
- $246,000 loan principle (60% LTV)
- $164,000 cash paid at closing (40% on 60% LTV)
- $7,380 origination points (3% of the $246,000 principle amount)
- $22,140 total interest paid (12 months x 9% interest)
-----------------------
= $50,480 net profit
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
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 ...
Kings of Capital
550 Pinetown Rd
Fort Washington, PA 12034
Kings of Capital is the leading Nationwide Hard Money Lender that specializes in fast and flexible lending processes across the country. Our company is led by experienced Real Estate lenders providing a professional, knowledgeable, and hard-working team to help all ...
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 ...
Finance of America Commercial
4201 Congress Street, Suite 475
Charlotte, NC 28209
Based in Charlotte, NC, Finance of America Commercial is a private money lender providing funding all throughout the United States. They offer lending solutions for a variety of situations and needs, including refinancing, hard money bridge loans, fix and ...
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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