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New Construction Loans in Gilby, North Dakota
A total of 14 records for construction private money lenders were found in Gilby, ND. In this city, the average note amount is $500,000. Interest rates for loans average around 10.8%. The median loan issued in the city is for 22 months. The average origination percentage added to the loans is 3.3%. 71% is the mean loan to value (LTV) for offered by lenders in Gilby.
Loan Example 1
Etta is an investor in Gilby, ND. She decides to acquire a home lot and build a new single family home. The land is listed for $320,000 and Etta expects that the construction costs for the house will be about $200,000. In order to pay for the transaction, she takes a new construction loan from Pretty Perfect Investment Group. They agree to issue a loan with a 14% rate of interest for 12 months and five origination points paid at the closing. They also agree to fund 55% of the cumulative costs (the loan-to-value / "LTV"). Construction fees are to be paid in multiple draws and there are no pre-payment penalties assessed. Given this deal scenario, the lender will fund $286,000 of the land and the construction costs. The borrower will have to pay $234,000 down, a $14,300 origination charge, and $3,337 per month in note payments. After deducting all costs, Etta will make a $125,660 total profit if she succeeds in his goal of a $700,000 sales price.
Loan Example 2
Antoinette is a builder in Gilby, ND. She decides to buy a home lot and build a new tri-plex. She takes a new construction loan from Advanced Funding Company with these parameters:
a) A $260,000 purchase price for the vacant lot, b) $400,000 in construction costs, c) an 65% loan to value (LTV), d) a 18 month term, e) a 9% rate of interest, and f) a 5% origination charge.
If Antoinette succeeds in her goal of a $990,000 sales price, the final numbers of the project would be the following:
$990,000 sales price
- $429,000 principle (65% LTV)
- $231,000 cash paid at closing (35% on 65% LTV)
- $21,450 origination points (5% of the $429,000 principle amount)
- $57,915 total interest paid (18 months x 9% interest)
-----------------------
= $250,635 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
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 ...
Navigator Private Capital
1910 Towne Centre Blvd. Suite 250
Annapolis, MD 21401
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels. As private money lenders, we fund short- and long-term low-risk development projects ...
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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