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New Construction Loans in Hoople, North Dakota
Hoople, ND has 13 construction private money lenders serving the city. The median note issued to borrowers is about $455,938. The median rate for private loans in Hoople is 10.4%. 21 months is the median length for loans offered in the city. The average points added to the loans is 2.9%. Lenders in Hoople average a 75% loan to value on their deals.
Loan Example 1
Marguerite is a builder in Hoople, ND. She decides to buy a land plot and build a new duplex. The lot costs $260,000 and Marguerite estimates the construction costs for the project will be approximately $150,000. She takes a new construction loan from Trust Finance Company with the following parameters: 1) a 12 month note at 13% interest, 2) interest-only payments made each month, 3) 4 origination points paid at the closing by the borrower, and 4) a 60% loan-to-value (LTV) on both the land purchase and the construction expenses. Marguerite will collect the construction expenses in draws and there will be no pre-payment penalty if she re-pays the loan early. According to the specifications of the loan, Marguerite will need to fund $164,000 plus $9,840 in origination costs at the closing, then will start making $2,665 per month payments. After deducting all expenses, Marguerite will earn a $98,180 gross profit if she succeeds in his goal of a $550,000 sales price.
Loan Example 2
Chelsea is a real estate investor and she wants to construct a duplex on a lot in Hoople, ND. Because she doesn't have the money to pay for the total transaction, she applies for a construction private money loan from Reliance Lending Company with the following specifications:
- $270,000 purchase price for the land
- $400,000 in building expenses
- 75% loan-to-value (LTV)
- 12 month length
- 11% interest rate
- 2% origination fee
After the building project is finished, if Chelsea lists the house for $1,000,000, the final numbers would be as follows:
$1,000,000 sales price
- $502,500 note principle (75% LTV)
- $167,500 cash paid at closing (25% on 75% LTV)
- $10,050 origination points (2% of the $502,500 principle)
- $55,275 interest payments (12 months x 11% interest)
-----------------------
= $264,675 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 ...
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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