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New Construction Loans in Milton, Vermont
Milton, VT has 17 construction private money lenders operating within the city. The mean note issued to borrowers is around $411,111. Rates for hard money loans average around 10.3%. The typical note issued in the city is for 28 months. A typical hard money loan offered in the city carries a 2.5 point origination fee. Lenders in Milton average a 73% loan to value on their deals.
Loan Example 1
Kent is an investor who wants to buy a land plot in Milton, VT in order to build a single family home. The building costs will be approximately $250,000 and the plot will cost $380,000. East Star Funding Corporation makes a 50% loan to value (LTV) new construction loan to Kent in order to complete the deal. They also agree to a 8% rate of interest for 18 months in addition to a three point origination fee. Kent is to receive the building expenses in draws and there won't be a pre-payment penalty if he pays off the note early. By the terms of the note, Kent will be required to pay $315,000 plus $9,450 in origination costs at closing, then will begin making $2,100 per month payments. Kent's plan is to sell the project for $810,000. If he succeeds, he will pocket a gross profit of $132,750 after deducting all expenses ($315,000 principle, $315,000 cash down, $9,450 origination fee and $37,800 for 18 months of interest payments).
Loan Example 2
Tia wants to buy a vacant lot in Milton, VT to construct a single family home to re-sell it. Since she does not have the money to fund 100% of the purchase, she takes out a construction private money loan from North End Investment Group with the following specifications:
a) A $400,000 sales price for the vacant plot, b) $250,000 in construction costs, c) an 65% loan to value (LTV), d) a 6 month length, e) a 11% rate of interest, and f) a 3% origination fee.
Tia wants to sell the house when the note expires for $780,000. If she achieves her goal, the project numbers will be the following:
$780,000 sales price
- $422,500 note principle (65% LTV)
- $227,500 down payment (35% on 65% LTV)
- $12,675 origination points (3% of the $422,500 principle)
- $23,238 total interest paid (6 months x 11% interest)
-----------------------
= $94,088 gross 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
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
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
Park Place Finance is a nationwide, direct private lender, specializing in Fix and Flip, Bridge, and DSCR loans. With same day approvals and an average 3-5 day close time, Park Place Finance is the business partner you need to get ...
Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new construction loans, ...
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
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 ...
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. ...
Father & Son Private Money Lending is a hard money lender providing loans in Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut. They provide fix-and-flip hard money loans, private refinancing, ground up construction loans, commercial loans, ...
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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