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New Construction Loans in Brandon, South Dakota
Brandon, SD has 13 construction hard money lenders operating in the city. The average amount for loans is $491,072. The average interest rate for private loans in Brandon is 10.7%. The average term for loans is 20 months. The mean origination for loans is 4.5 percent. Lenders in Brandon average a 74% LTV on their loans.
Loan Example 1
Ross wants to buy a land lot in Brandon, SD and build a tri-plex in order to re-sell it for a profit. The lot is available for $220,000 and Ross thinks the building costs for the new house will be about $150,000. River City Lending Corporation makes a 60% loan-to-value (LTV) construction loan to Ross in order to pay for the transaction. They agree to a 11% rate of interest for 6 months plus a 5 point origination fee. Ross will collect the building costs in draws and there won't be a pre-payment penalty if he re-pays the loan prior to the expiration. Given this deal scenario, Ross will be required to fund the following: 1) $148,000 down (based on the 60% LTV), 2) a $11,100 origination fee ($222,000 principle x 5%), and 3) $2,035 monthly payments. When the loan expires, Ross sells the house for $550,000. This will make Ross a $156,690 net profit after paying back all costs of the deal ($222,000 principle amount, $148,000 cash at closing, $11,100 origination charges, and $12,210 for 6 months of interest payments).
Loan Example 2
Mike is a real estate investor and he wants to buy a land plot in Brandon, SD and build a new home. In order to pay for the transaction, he obtains a construction loan from All American Finance Corporation with the following stipulations:
a) A $330,000 purchase price for the plot, b) $250,000 in construction expenses, c) an 60% loan-to-value (LTV), d) a 18 month term, e) a 8% rate of interest, and f) a 4% origination fee.
After the construction is finished, if Mike lists the house for $780,000, the final numbers will be the following:
$780,000 sales price
- $348,000 principle (60% LTV)
- $232,000 cash paid at closing (40% on 60% LTV)
- $13,920 origination fee (4% of the $348,000 principle)
- $41,760 interest payments (18 months x 8% interest)
-----------------------
= $144,320 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
Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
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 ...
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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