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New Construction Loans in Crooks, South Dakota
A total of 13 search results for construction hard money lenders were found in Crooks, SD. The mean loan made to borrowers is approximately $508,000. The mean rate for hard money loans in Crooks is 10.8%. The typical length offered for loans is 26 months. A typical loan offered in this city carries a 3.2 percent origination charge. Lenders typically offer a 74% loan to value on deals in Crooks.
Loan Example 1
Corey is a real estate investor who wants to build a single family home on a vacant lot in Crooks, SD. The land is available for $260,000 and Corey expects that the building costs for the new house will be approximately $150,000. He takes a construction loan from K & M Funding Company with the following specifications: 1) a 18 month note at 11% interest, 2) interest only payments made monthly, 3) 2 origination points paid at closing by the borrower, and 4) a 65% loan to value (LTV) on both the land purchase and the building expenses. They agree not to charge a pre-payment penalty and they will fund the building expenses in several draws. Given this deal scenario, the lender will contribute $266,500 of the lot and the building expenses. The borrower will need to pay $143,500 down, a $5,330 origination fee, and $2,443 per month in interest payments. When the loan expires, Corey re-sells the home for $510,000. This will earn Corey a $50,698 gross profit after repaying all expenses of the deal ($266,500 principle amount, $143,500 cash down, $5,330 origination fee, and $43,973 for 18 months of payment).
Loan Example 2
Alfredo decides to buy a land lot in Crooks, SD to build a new duplex and sell it. He gets a construction loan from South End Investment Company with the following terms:
- $390,000 purchase price for the lot
- $250,000 in building costs
- 60% loan to value (LTV)
- 6 month term
- 13% interest rate
- 2% origination fee
After the building project is complete, if Alfredo sells the property for $920,000, the final numbers will be the following:
$920,000 sales price
- $384,000 note principle (60% LTV)
- $256,000 down payment (40% on 60% LTV)
- $7,680 origination fee (2% of the $384,000 principle)
- $24,960 interest payments (6 months x 13% interest)
-----------------------
= $247,360 net 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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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 ...
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 ...
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. ...
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