Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
New Construction Loans in Brandon, Vermont
Brandon, VT has 18 construction private money lenders offering loans within the city. The median note issued to borrowers is approximately $434,722. The median rate for loans in Brandon is 12.6%. The typical length for loans is 24 months. The average loan made in this city carries a 3.0 percent origination fee. 72% is the average loan to value for offered by lenders in Brandon.
Loan Example 1
Terrance is a builder and decides to construct a single family home on a land lot in Brandon, VT. In addition to the $270,000 price of the lot, Terrance thinks he will need about $200,000 in building expenses to complete the project. He takes a new construction loan from West Side Funding Corporation with these specifications: 1) a 18 month note at 8% interest, 2) interest-only payments made monthly, 3) 4 origination points at the closing by the borrower, and 4) a 55% loan-to-value (LTV) on the plot and the building expenses. They agree not to enforce a pre-payment penalty and they will contribute the building expenses in multiple draws. The borrower will have to pay $1,723 monthly in interest payments in addition to $211,500 down, plus a $10,340 origination fee at the closing. When the loan expires, Terrance re-sells the home for $630,000. This will net Terrance a $118,640 net profit after re-paying all expenses of the deal ($258,500 principle amount, $211,500 cash at closing, $10,340 origination fee, and $31,020 for 18 months of payment).
Loan Example 2
Edward is a home builder and wants to build a house on a vacant lot in Brandon, VT. He gets a new construction loan from Red View Funding with these specifications:
a) A $220,000 sales price for the vacant plot, b) $200,000 in construction costs, c) an 70% loan-to-value (LTV), d) a 12 month length, e) a 13% interest rate, and f) a 3% origination charge.
Edward wants to list the house at the end of the term for $520,000. If he achievs this goal, the project numbers will be the following:
$520,000 sales price
- $294,000 principle on note (70% LTV)
- $126,000 cash paid at closing (30% on 70% LTV)
- $8,820 origination fee (3% of the $294,000 principle amount)
- $38,220 total interest paid (12 months x 13% interest)
-----------------------
= $52,960 net profit
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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Atlanta, GA 30309
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Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75071
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500 West 2nd Suite 1900
Austin, TX 78701
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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2475 Albany Ave #203B
West Hartford, CT 06117
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REI Capital
5660 Strand Court
Naples, FL 34110
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7901 4th St N Suite
St. Petersburg, FL 10265
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Lend Some Money
42 Thompson Street, Suite 1A
East Haven, CT 06513
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Primeau Funding
10575 N. 114th St. Suite 103
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75 Arlington Street, Suite 500
Boston, MA 02116
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4201 Congress Street, Suite 475
Charlotte, NC 28209
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20 West Vine Street #575
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Green Knight Funding
600 Loring Avenue, Suite 5
Salem, MA 01907
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