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New Construction Loans in Jefferson, South Dakota
A total of 13 search results for new construction hard money lenders were found in Jefferson, SD. The median note amount is $1,196,875. Interest rates on private loans made to Jefferson investors average 10.9%. The mean loan made in the city has a term of 19 months. The mean note includes a 3.2 point origination fee. 69% is the mean loan-to-value (LTV) offered for for loans in Jefferson.
Loan Example 1
Tony is a home builder and he decides to acquire a lot in Jefferson, SD and build a house. In addition to the $190,000 cost of the lot, Tony estimates he will have around $300,000 in construction costs to complete the house. Red City Investment Group makes a 65% loan-to-value (LTV) new construction loan to Tony so he can fund the deal. They also agree to a 10% rate of interest for 12 months in addition to a five point origination fee. They agree not to enforce a pre-payment penalty and they will contribute the construction costs in four draws. Given this loan scenario, the lender will pay $318,500 of the land and construction costs. The borrower will need to pay $171,500 down, a $15,925 origination charge, and $2,654 per month in interest payments. When the loan expires, Tony sells the project for $610,000. This will earn Tony a $72,225 net profit after repaying all costs of the loan ($318,500 principle amount, $171,500 cash at closing, $15,925 origination charges, and $31,850 for 12 months of interest payments).
Loan Example 2
Vincent wants to buy a home lot in Jefferson, SD and build a single family home and re-sell it. Because he doesn't have enough cash to pay for the full transaction, he obtains a new construction private money loan from P & J Funding Group with the following specifications:
a) A $150,000 purchase price for the lot, b) $300,000 in building costs, c) an 65% loan-to-value (LTV), d) a 12 month length, e) a 9% rate of interest, and f) a 5 point origination fee.
After the construction is finished, if Vincent lists the house for $600,000, the final numbers would be as follows:
$600,000 sales price
- $292,500 loan principle (65% LTV)
- $157,500 cash paid at closing (35% on 65% LTV)
- $14,625 origination points (5% of the $292,500 principle)
- $26,325 total interest paid (12 months x 9% interest)
-----------------------
= $109,050 total profit
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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
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 ...
Tusker Capital
6910 Halesboro Drive
Austin, TX 78736
Tusker Capital is your go-to boutique real estate lending firm that provides borrowers with quality financing quickly for fix & flip, bridge, land, new construction, and commercial projects. We're dedicated to providing top-notch customer service at every step. As fellow ...
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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