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New Construction Loans in Rapid City, South Dakota
We found 13 records for construction private money lenders serving Rapid City, SD. In this city, the median note amount is $514,286. The median rate for loans in Rapid City is 10.5%. The typical term offered for loans is 19 months. The average loan includes a 2.4 percent origination fee. The typical loan-to-value (LTV) offered for loans in Rapid City is 73%.
Loan Example 1
Polly is an investor and wants to acquire a land plot in Rapid City, SD in order to build a new house. The land costs $320,000 and Polly expects the building costs for the new house will be about $150,000. West Side Lending Group will loan on the transaction at a 60% loan to value (LTV) with a 11%, 18 month new construction loan with 5 origination points paid when the deal closes. Polly will collect the building expenses in draws and there will not be a pre-payment penalty if she re-pays the note early. According to the rules of this note, Polly will need to pay $188,000 plus $14,100 in origination fees at closing, then will start making $2,585 monthly payments. When the loan expires, Polly sells the property for $700,000. This will earn Polly a $169,370 net profit after re-paying all expenses of the deal ($282,000 principle, $188,000 cash down, $14,100 origination fee, and $46,530 for 18 months of payment).
Loan Example 2
Enrique is a home builder who decides to build a single family home on a lot in Rapid City, SD. Because he does not have the cash to pay for 100% of the deal, he takes out a new construction hard money loan from Oceanside Funding Group with the following specifications:
- $150,000 purchase price for the lot
- $350,000 in building expenses
- 65% loan-to-value (LTV)
- 12 month term
- 12% interest rate
- 2% origination charge
Enrique intends to list the property when the loan expires for $670,000. If he achievs this goal, the deal numbers will be as follows:
$670,000 sales price
- $325,000 note principle (65% LTV)
- $175,000 down payment (35% on 65% LTV)
- $6,500 origination points (2% of the $325,000 principle)
- $39,000 total interest paid (12 months x 12% interest)
-----------------------
= $124,500 gross 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 ...
Ridge Street
7901 4th St N Suite
St. Petersburg, FL 10265
Funding Fix & Flip, Ground-Up Construction, and DSCR loans in 35 States. We're the lender for real estate entrepreneurs looking for fast funding, fair pricing, and amazing service.
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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