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New Construction Loans in Huron, South Dakota
We found 13 results for construction private money lenders in Huron, SD. Note amounts average approximately $593,750. Interest rates on loans issued to Huron investors average 11.0%. The median loan made in this city has a length of 22 months. The mean origination fee for the loans is 3.2 points. Lenders in Huron average a 74% LTV on their loans.
Loan Example 1
Gilbert is a home builder in Huron, SD. He decides to acquire a home lot to construct a new single family home. The plot costs $330,000 and Gilbert thinks that the construction costs for the new house will be about $300,000. He obtains a new construction loan from River City Finance with these terms: 1) a 18 month note at 13% interest, 2) interest only payments made each month, 3) 5 origination points at closing by the borrower, and 4) a 65% loan-to-value (LTV) on both the land and the construction costs. They agree not to charge a pre-payment penalty and they will issue the construction costs in four draws. By this deal scenario, the lender will fund $409,500 of the land and the construction costs. The borrower will have to pay $220,500 down, a $20,475 origination fee, and $4,436 per month in loan payments. If Gilbert sells the home for $940,000 he will make a gross profit of $209,673 after returning the loan principle and subtracting the origination fee and total interest payments.
Loan Example 2
Adam is a builder who decides to buy a vacant lot in Huron, SD to build a duplex. He takes a construction loan from Big Money Investment Company with these stipulations:
- $210,000 sales price for the land plot
- $250,000 in building expenses
- 70% loan-to-value (LTV)
- 12 month term
- 13% interest rate
- 5% origination fee
If his achieves a $550,000 re-sell after the 12 month term, the numbers for this project will be the following:
$550,000 sales price
- $322,000 note principle (70% LTV)
- $138,000 cash paid at closing (30% on 70% LTV)
- $16,100 origination points (5% of the $322,000 principle)
- $41,860 total interest paid (12 months x 13% interest)
-----------------------
= $32,040 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 ...
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 ...
Finance of America Commercial
4201 Congress Street, Suite 475
Charlotte, NC 28209
Based in Charlotte, NC, Finance of America Commercial is a private money lender providing funding all throughout the United States. They offer lending solutions for a variety of situations and needs, including refinancing, hard money bridge loans, fix and ...
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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