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New Construction Loans in Lyons, South Dakota
There are 13 new construction hard money lenders serving Lyons, SD. The mean loan made to borrowers is approximately $645,313. The mean rate for private loans in Lyons is 10.3%. The typical note issued in the city is 19 months in length. The mean origination fee charged for loans is 2.3%. The average loan to value offered for loans in Lyons is 76%.
Loan Example 1
Dale is a builder who decides to buy a lot in Lyons, SD and build a new single family home. The plot costs $150,000 and Dale estimates that the building costs for the new house will be about $250,000. He applies for a construction loan from Red Oak Funding Company with these specifications: 1) a 6 month note at 8% interest, 2) interest-only payments made monthly, 3) 2 origination points paid at closing by the borrower, and 4) a 80% loan-to-value (LTV) on both the land purchase and the building expenses. There are no pre-payment penalties for the note and building expenses will be paid over three draws. By this loan scenario, the lender will pay $320,000 of the plot and building expenses. The borrower will need to pay $80,000 down, a $6,400 origination charge, and $2,133 monthly in loan payments. At the end of the loan, Dale sells the house for $540,000. This will make Dale a $120,800 total profit after re-paying all expenses of the loan ($320,000 principle, $80,000 cash at closing, $6,400 origination fee, and $12,800 for 6 months of interest payments).
Loan Example 2
Alvin is a real estate investor and wants to construct a single family home on a land lot in Lyons, SD. He gets a new construction loan from Pretty Perfect Finance Group with these stipulations:
a) A $370,000 sales price for the vacant plot, b) $350,000 in construction expenses, c) an 85% loan-to-value (LTV), d) a 12 month length, e) a 13% interest rate, and f) a 4 point origination charge.
After the building project is finished, if Alvin sells the property for $1,080,000, the final numbers would be as follows:
$1,080,000 sales price
- $612,000 principle (85% LTV)
- $108,000 cash paid at closing (15% on 85% LTV)
- $24,480 origination fee (4% of the $612,000 principle)
- $79,560 total interest paid (12 months x 13% interest)
-----------------------
= $255,960 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
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 ...
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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