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New Construction Loans in Belle Fourche, South Dakota
A total of 13 records for new construction hard money lenders were found in Belle Fourche, SD. The average loan made is approximately $439,286. Interest rates on hard money loans made to Belle Fourche investors average 11.1%. The median length for loans is 14 months. The average loan includes a 3.8 percent origination cost. Lenders offer on average a 76% loan-to-value (LTV) on hard money loans in Belle Fourche.
Loan Example 1
Ada is a home builder and decides to buy a lot in Belle Fourche, SD to construct a single family home. The plot is listed for $170,000 and Ada estimates that the construction costs for the house will be around $400,000. South End Funding Company will loan on the deal at a 75% loan-to-value (LTV) with a 13%, 12 month construction loan with two origination points to be paid at closing. They agree not to assess a pre-payment penalty and they will pay out the construction expenses in multiple draws. By this deal scenario, the lender will fund $427,500 of the purchase and the construction expenses. The borrower will have to pay $142,500 down, a $8,550 origination charge, and $4,631 per month in loan payments. Ada's intent is to sell the house for $710,000. If she succeeds, she will pocket a gross profit of $75,875 after subtracting all costs ($427,500 principle amount, $142,500 cash down, $8,550 origination charges and $55,575 for 12 months of payments).
Loan Example 2
Betsy is a real estate investor who decides to acquire a land lot in Belle Fourche, SD and construct a home. In order to pay for the deal, she applies for a construction loan from West Star Funding Group with these parameters:
- $390,000 purchase price for the land plot
- $400,000 in building expenses
- 75% loan to value (LTV)
- 6 month term
- 12% interest rate
- 5% origination charge
After the construction is complete, if Betsy lists the house for $980,000, the final numbers would be the following:
$980,000 sales price
- $592,500 principle (75% LTV)
- $197,500 cash paid at closing (25% on 75% LTV)
- $29,625 origination fee (5% of the $592,500 principle amount)
- $35,550 interest payments (6 months x 12% interest)
-----------------------
= $124,825 net profit
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 ...
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 ...
i fund cities
448 N 10th Street, Suite 402
Philadelphia, PA 19123
i Fund Cities is a flexible and reliable lending platform providing Kick A$$ Loans to residential real estate investors nationwide. It all started in the city of brotherly love, Philadelphia, where the partners set out on a mission to provide ...
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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