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New Construction Loans in Hensel, North Dakota
There are 14 construction private money lenders offering loans in Hensel, ND. Note amounts average about $517,857. The average interest rate for loans in Hensel is 11.5%. The mean term for notes is 30 months. The mean loan includes a 3.1 percent origination cost. Lenders offer on average a 79% loan to value (LTV) on loans in Hensel.
Loan Example 1
Fred is a home builder in Hensel, ND. He wants to buy a home lot to construct a new home. On top of the $370,000 cost of the plot, Fred approximates he will have around $250,000 in building costs to complete the project. Success Finance makes a 55% loan-to-value (LTV) new construction loan to Fred so he can fund the deal. They also agree to a 8% rate of interest for 12 months plus a 3 point origination fee. Fred is to receive the building costs in draws and there will not be a pre-payment penalty if he repays the note prior to the expiration. Given this loan scenario, the lender will pay $341,000 of the land and the building costs. The borrower will be required to pay $279,000 down, a $10,230 origination charge, and $2,273 monthly in loan payments. If Fred then sells the home for $890,000 he will earn a total profit of $232,490 after paying pack the principle amount and deducting the origination expense and total interest.
Loan Example 2
Jeanine is a builder who wants to buy a lot in Hensel, ND to construct a single family home. Because she doesn't have the cash to fund the total purchase, she applies for a construction private money loan from Suburban Investment Company with these stipulations:
a) A $360,000 sales price for the land plot, b) $350,000 in building costs, c) an 70% loan to value (LTV), d) a 18 month term, e) a 12% rate of interest, and f) a 5 point origination charge.
Jeanine intends to sell the house at the end of the term for $990,000. If she achieves her goal, the project numbers will be as follows:
$990,000 sales price
- $497,000 note principle (70% LTV)
- $213,000 cash paid at closing (30% on 70% LTV)
- $24,850 origination fee (5% of the $497,000 principle)
- $89,460 interest payments (18 months x 12% interest)
-----------------------
= $165,690 total 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 ...
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 ...
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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