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New Construction Loans in Wahpeton, North Dakota
Wahpeton, ND has 14 new construction hard money lenders operating within the city. The mean amount for loans is $668,056. Rates on hard money loans issued to Wahpeton investors average about 11.0%. The mean loan made in this city is 17 months in length. The average loan made in the city includes a 4.1 point origination charge. The typical loan-to-value offered for loans in Wahpeton is 79%.
Loan Example 1
Elinor is a builder who decides to purchase a home lot in Wahpeton, ND and construct a duplex. The lot costs $290,000 and Elinor expects the building costs for the new house will be around $150,000. Evergreen Lending Group will loan on the transaction at a 75% loan-to-value (LTV) with a 14%, 18 month new construction loan with five origination points paid at closing. There will be no pre-payment penalties on the note and building expenses will be paid out over multiple draws. The borrower will be required to pay $3,850 per month in loan payments on top of $110,000 down, plus a $16,500 origination fee at the closing. At the end of the loan, Elinor sells the project for $590,000. This will net Elinor a $64,200 total profit after paying off all expenses of the loan ($330,000 principle amount, $110,000 cash at closing, $16,500 origination charges, and $69,300 for 18 months of payment).
Loan Example 2
Johnny is an investor who decides to construct a tri-plex on a land lot in Wahpeton, ND. He obtains a construction loan from Frontera Funding with these specifications:
- $310,000 sales price for the plot
- $350,000 in building expenses
- 85% loan to value (LTV)
- 18 month term
- 14% rate of interest
- 4% origination charge
If Johnny achieves his goal of a $890,000 sales price, the final numbers of the project would be the following:
$890,000 sales price
- $561,000 loan principle (85% LTV)
- $99,000 cash paid at closing (15% on 85% LTV)
- $22,440 origination points (4% of the $561,000 principle amount)
- $117,810 interest payments (18 months x 14% interest)
-----------------------
= $89,750 gross profit
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
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 ...
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 ...
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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