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New Construction Loans in Lyndon, Vermont
There are 18 records for construction private money lenders serving Lyndon, VT. Note amounts average around $516,667. Interest rates on loans made to Lyndon borrowers average around 9.6%. 27 months is the median term for loans issued in the city. The average loan includes a 7.3 percent origination fee. The mean LTV offered for loans in Lyndon is 71%.
Loan Example 1
Rebekah decides to purchase a land plot in Lyndon, VT and construct a tri-plex to re-sell it for a profit. Rebekah expects that the construction expenses will be approximately $150,000 and the lot is listed for $320,000. Superior Investment Corporation issues a 65% loan to value (LTV) construction loan to Rebekah so she can fund the deal. They agree to a 8% interest rate for 6 months plus a five point origination fee. There will be no pre-payment penalties on the note and construction expenses will be paid over several draws. The borrower will be required to pay $2,037 monthly in note payments in addition to $164,500 down, plus a $15,275 origination fee at the closing. Rebekah's intent is to sell the house for $680,000. If she succeeds, she will earn a gross profit of $182,505 after deducting all expenses ($305,500 principle amount, $164,500 cash down, $15,275 origination charges and $12,220 for 6 months of interest payments).
Loan Example 2
Ernestine is a home builder and she wants to build a tri-plex on a vacant lot in Lyndon, VT. Since she doesn't have the cash to pay for the full transaction, she applies for a construction hard money loan from Blue Mountain Investment Company with these stipulations:
a) A $380,000 sales price for the vacant lot, b) $200,000 in construction costs, c) an 55% loan-to-value (LTV), d) a 18 month term, e) a 8% interest rate, and f) a 4 point origination fee.
After the construction is complete, if Ernestine sells the property for $870,000, the final numbers would be as follows:
$870,000 sales price
- $319,000 note principle (55% LTV)
- $261,000 cash paid at closing (45% on 55% LTV)
- $12,760 origination points (4% of the $319,000 principle amount)
- $38,280 total interest paid (18 months x 8% interest)
-----------------------
= $238,960 gross profit
Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
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Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75071
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500 West 2nd Suite 1900
Austin, TX 78701
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Peak Choice Capital
601 Silver Creek Drive
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Sunset Equity Funding
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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REI Capital
5660 Strand Court
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Tusker Capital
6910 Halesboro Drive
Austin, TX 78736
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Lend Some Money
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East Haven, CT 06513
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Primeau Funding
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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
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Green Knight Funding
600 Loring Avenue, Suite 5
Salem, MA 01907
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