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New Construction Loans in Devils Lake, North Dakota
There are 13 results for new construction hard money lenders operating in Devils Lake, ND. The average amount loaned in this city is $537,500. The average interest rate for private loans in Devils Lake is 11.7%. The mean note issued in this city is 29 months in length. The mean origination fee for loans is 3.8 points. The average LTV offered for loans in Devils Lake is 75%.
Loan Example 1
Kirsten is a home builder in Devils Lake, ND. She wants to buy a vacant lot to construct a new single family home. Kirsten estimates that the construction expenses will be approximately $250,000 and the land is listed for $250,000. USA Funding Company will contribute to the deal at a 65% loan to value (LTV) with a 14%, 12 month new construction loan with four origination points to be paid at closing. They will not assess a pre-payment penalty and they will contribute the construction expenses in a few draws. Given this loan scenario, the lender will contribute $325,000 of the lot and the construction expenses. The borrower will have to pay $175,000 down, a $13,000 origination fee, and $3,792 monthly in loan payments. After deducting all expenses, Kirsten will pocket a $191,500 gross profit if she succeeds in his goal of a $750,000 sales price.
Loan Example 2
Erik is a builder in Devils Lake, ND. He decides to acquire a home lot to build a new tri-plex. Because he doesn't have the money to pay for the full project, he obtains a new construction private money loan from Easy Brook Finance with these parameters:
a) A $350,000 purchase price for the land plot, b) $200,000 in building expenses, c) an 80% loan to value (LTV), d) a 18 month term, e) a 8% interest rate, and f) a 2% origination charge.
Based on a projected $740,000 resell after the 18 month term, the numbers for this deal will be as follows:
$740,000 sales price
- $440,000 principle (80% LTV)
- $110,000 cash paid at closing (20% on 80% LTV)
- $8,800 origination fee (2% of the $440,000 principle amount)
- $52,800 total interest paid (18 months x 8% interest)
-----------------------
= $128,400 gross 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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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 ...
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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