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New Construction Loans in Java, South Dakota
There are 12 records for construction private money lenders operating in Java, SD. The median amount loaned in this city is $662,500. The median interest rate for private loans in Java is 11.9%. The median length for loans is 19 months. The mean origination percentage charged for loans is 7.0%. Lenders offer on average a 70% loan-to-value (LTV) on deals in Java.
Loan Example 1
Jerry is a builder and he wants to buy a land plot in Java, SD to build a new duplex. Along with the $340,000 price of the land, Jerry approximates he will need about $200,000 in construction costs to build the house. In order to fund the deal, he applies for a construction loan from Riverside Lending Corporation. They contract to make a loan with a 11% interest rate for 18 months and 5 origination points to be paid at the closing. Additionally, they agree to fund 70% of the cumulative costs (the loan-to-value or "LTV"). There will be no pre-payment penalties for the note and construction costs will be paid out over multiple draws. By the terms of the loan, Jerry will need to fund $162,000 plus $18,900 in origination costs at the closing, then will begin making $3,465 monthly payments. If Jerry sells the project for $640,000 he will earn a gross profit of $18,730 after paying pack the principle amount and subtracting the origination expense and cumulative interest payments.
Loan Example 2
Rosemarie is a real estate investor and decides to construct a duplex on a lot in Java, SD. To pay for the deal, she takes out a new construction loan from West Star Investment Group with these specifications:
- $400,000 sales price for the plot
- $400,000 in building expenses
- 85% loan to value (LTV)
- 6 month term
- 12% interest rate
- 5% origination fee
Rosemarie plans to sell the property when the loan expires for $1,160,000. If she achievs this goal, the final numbers will be as follows:
$1,160,000 sales price
- $680,000 note principle (85% LTV)
- $120,000 cash paid at closing (15% on 85% LTV)
- $34,000 origination points (5% of the $680,000 principle)
- $40,800 total interest paid (6 months x 12% interest)
-----------------------
= $285,200 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 ...
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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