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New Construction Loans in Cavendish, Vermont
Cavendish, VT has 18 new construction lenders issuing loans in the city. The average note issued is around $810,000. The average rate for hard money loans in Cavendish is 11.1%. The typical length for loans is 18 months. The mean note includes a 5.8 point origination charge. 70% is the mean LTV for offered by lenders in Cavendish.
Loan Example 1
Jessie is a home builder who decides to construct a single family home on a vacant lot in Cavendish, VT. The plot is listed for $400,000 and Jessie expects the construction costs for the project will be approximately $200,000. She obtains a new construction loan from Pretty Perfect Funding Corporation with these terms: 1) a 18 month note at 12% interest, 2) interest-only payments made each month, 3) 3 origination points paid at the closing by the borrower, and 4) a 55% loan-to-value (LTV) on both the plot and the construction costs. There are no pre-payment penalties on the loan and construction costs will be paid out over multiple draws. Given this deal scenario, Jessie will need to contribute the following expenses: 1) $270,000 cash down (based on the 55% LTV), 2) a $9,900 origination charge ($330,000 principle x 3%), and 3) $3,300 monthly interest payments. If Jessie sells the home for $780,000 she will pocket a total profit of $110,700 after re-paying the principle amount and deducting the origination points and cumulative interest.
Loan Example 2
Edward decides to acquire a land lot in Cavendish, VT and construct a new home to resell it. Because he doesn't have the cash to fund the full deal, he obtains a new construction private money loan from Assurance Finance Group with the following parameters:
a) A $290,000 sales price for the land, b) $250,000 in building expenses, c) an 70% loan-to-value (LTV), d) a 6 month length, e) a 8% rate of interest, and f) a 4% origination fee.
Edward intends to sell the project at the end of the term for $700,000. If he succeeds, the final numbers will be the following:
$700,000 sales price
- $378,000 principle on note (70% LTV)
- $162,000 cash paid at closing (30% on 70% LTV)
- $15,120 origination fee (4% of the $378,000 principle amount)
- $15,120 total interest paid (6 months x 8% interest)
-----------------------
= $129,760 total profit
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!
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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Harbor Private Equity
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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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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Peak Choice Capital
601 Silver Creek Drive
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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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
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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
Scottsale, AZ 85259
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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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Creative Hard Money LLC
508 Whitehorse Mercerville Rd
Hamilton, NJ 08610
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11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
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Green Knight Funding
600 Loring Avenue, Suite 5
Salem, MA 01907
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