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New Construction Loans in Castleton, Vermont
Castleton, VT has 19 construction hard money lenders offering loans within the city. Note amounts average around $435,000. Interest rates on hard money loans made to Castleton borrowers average around 10.9%. The typical length offered for loans is 21 months. The average loan includes a 3.0 point origination cost. The typical LTV offered for loans in Castleton is 69%.
Loan Example 1
Curtis is a builder who wants to purchase a land plot in Castleton, VT to build a house. In addition to the $350,000 price of the lot, Curtis expects he will require around $150,000 in construction expenses to build the home. Ocean View Funding Company will fund the transaction at a 50% loan to value (LTV) with a 14%, 12 month construction loan with four origination points paid when the transaction closes. They will not enforce a pre-payment penalty and they will issue the construction expenses in several draws. The borrower will have to pay $2,917 monthly in loan payments on top of $250,000 down, plus a $10,000 origination charge at the closing. If Curtis then sells the property for $700,000 he will earn a total profit of $155,000 after paying pack the principle and deducting the origination expense and cumulative interest.
Loan Example 2
Iris is a home builder and decides to construct a duplex on a land lot in Castleton, VT. Since she doesn't have enough cash to pay for the full deal, she takes out a new construction private money loan from Dimension Funding Group with the following specifications:
- $390,000 purchase price for the vacant plot
- $400,000 in construction costs
- 50% loan to value (LTV)
- 18 month length
- 10% interest rate
- 4% origination fee
After the construction is complete, if Iris lists the house for $980,000, the final numbers will be as follows:
$980,000 sales price
- $395,000 note principle (50% LTV)
- $395,000 down payment (50% on 50% LTV)
- $15,800 origination points (4% of the $395,000 principle amount)
- $59,250 interest payments (18 months x 10% interest)
-----------------------
= $114,950 net profit
Funding Fix & Flip, Ground-Up Construction, and DSCR loans in 35 States. We're the lender for real estate entrepreneurs looking for fast funding, fair pricing, and amazing service.
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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
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 ...
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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Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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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
Based in Salem, MA, Green Knight Funding is a hard money lender offering funding throughout Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, Maine, and Florida. They offer lending solutions for a variety of situations and needs, including fix ...
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