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New Construction Loans in Minot Afb, North Dakota
We found 14 search results for construction hard money lenders in Minot Afb, ND. Note amounts average about $400,000. Rates for private loans average 9.4%. The average loan made in this city is 22 months in length. The average loan includes a 2.8 point origination cost. Lenders in Minot Afb average a 73% LTV on their loans.
Loan Example 1
Dena is a home builder in Minot Afb, ND. She wants to purchase a home lot to construct a new house. On top of the $200,000 cost of the lot, Dena approximates she will have around $300,000 in construction costs to build the home. She obtains a new construction loan from K & M Lending Company with the following parameters: 1) a 18 month note at 12% interest, 2) interest-only payments made each month, 3) 3 origination points paid at closing by the borrower, and 4) a 70% loan-to-value (LTV) on the lot and the construction costs. Dena is to collect the construction costs in draws and there won't be a pre-payment penalty if she re-pays the note before the 18 months is over. By this loan scenario, Dena will be required to fund the following: 1) $150,000 cash down (based on the 70% LTV), 2) a $10,500 origination fee ($350,000 principle x 3%), and 3) $3,500 monthly interest payments. When the loan expires, Dena sells the project for $750,000. This will net Dena a $176,500 net profit after re-paying all costs of the loan ($350,000 principle amount, $150,000 cash at closing, $10,500 origination charges, and $63,000 for 18 months of payment).
Loan Example 2
Alvin is a home builder and he wants to construct a duplex on a land plot in Minot Afb, ND. In order to pay for the project, he applies for a construction loan from Dynamic Funding with these stipulations:
a) A $390,000 purchase price for the land, b) $350,000 in construction expenses, c) an 50% loan to value (LTV), d) a 12 month term, e) a 8% interest rate, and f) a 3% origination charge.
Alvin plans to list the project at the end of the term for $1,070,000. If he achieves his goal, the deal numbers will be as follows:
$1,070,000 sales price
- $370,000 note principle (50% LTV)
- $370,000 down payment (50% on 50% LTV)
- $11,100 origination fee (3% of the $370,000 principle amount)
- $29,600 total interest paid (12 months x 8% interest)
-----------------------
= $289,300 total 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 ...
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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