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New Construction Loans in Bismarck, North Dakota
Bismarck, ND has 13 new construction hard money lenders offering loans in the city. Loan amounts average around $516,072. Interest rates on hard money loans made to Bismarck investors average 10.7%. The average loan made in the city has a term of 14 months. The average loan includes a 4.2 point origination charge. The average loan to value for loans in Bismarck is 78%.
Loan Example 1
Connie wants to acquire a lot in Bismarck, ND and build a new duplex in order to re-sell it for a profit. Connie estimates the construction expenses will be around $400,000 and the lot will cost $160,000. She takes a construction loan from Downtown Lending Group with the following terms: 1) a 12 month note at 9% interest, 2) interest-only payments made each month, 3) 2 origination points paid at the closing by the borrower, and 4) a 80% loan to value (LTV) on the lot purchase and the construction expenses. They agree not to assess a pre-payment penalty and they will pay out the construction expenses in several draws. According to the stipulations of the loan, Connie will be required to pay $112,000 plus $8,960 in origination fees at the closing, then will begin making $3,360 monthly payments. Connie's plan is to sell the home for $670,000. If she achieves this, she will make a gross profit of $60,720 after deducting all costs ($448,000 principle, $112,000 cash down, $8,960 origination charges and $40,320 for 12 months of interest payments).
Loan Example 2
Curtis wants to acquire a vacant lot in Bismarck, ND to construct a tri-plex and resell it. To fund the transaction, he obtains a construction loan from Fortune Lending with the following stipulations:
a) A $310,000 sales price for the land plot, b) $300,000 in building costs, c) an 65% loan-to-value (LTV), d) a 6 month length, e) a 10% rate of interest, and f) a 4% origination charge.
After the building project is complete, if Curtis lists the property for $820,000, the final numbers would be as follows:
$820,000 sales price
- $396,500 principle on note (65% LTV)
- $213,500 cash paid at closing (35% on 65% LTV)
- $15,860 origination fee (4% of the $396,500 principle)
- $19,825 interest payments (6 months x 10% interest)
-----------------------
= $174,315 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
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 ...
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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