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New Construction Loans in Minto, North Dakota
Minto, ND has 14 new construction hard money lenders operating within the city. The average amount for loans is $418,438. Interest rates on loans issued to Minto borrowers average around 10.4%. The typical loan issued in this city has a length of 16 months. The average note includes a 4.6 point origination fee. Lenders in Minto average a 75% loan-to-value (LTV) on their deals.
Loan Example 1
Brent is an investor and he decides to build a house on a land plot in Minto, ND. In addition to the $300,000 cost of the lot, Brent thinks he will require about $300,000 in building costs to complete the house. Blue Door Investment Group issues a 50% loan-to-value (LTV) new construction loan to Brent in order to fund the transaction. They agree to a 12% rate of interest for 6 months in addition to a four point origination fee. They agree not to enforce a pre-payment penalty and they will contribute the building costs in a few draws. By the terms of the note, Brent will have to fund $300,000 plus $12,000 in origination fees at the closing, then will begin making $3,000 per month payments. When the loan expires, Brent re-sells the property for $840,000. This will make Brent a $210,000 gross profit after paying off all costs of the loan ($300,000 principle amount, $300,000 cash at closing, $12,000 origination fee, and $18,000 for 6 months of interest payments).
Loan Example 2
Josie decides to acquire a land lot in Minto, ND to construct a new duplex in order to resell it for a profit. Since she doesn't have enough money to pay for 100% of the purchase, she obtains a construction private money loan from Yellow Sun Funding Company with the following terms:
a) A $270,000 sales price for the plot, b) $300,000 in building expenses, c) an 80% loan to value (LTV), d) a 12 month length, e) a 14% interest rate, and f) a 4 point origination fee.
Josie intends to list the house when the note expires for $790,000. If she achievs this goal, the deal numbers will be as follows:
$790,000 sales price
- $456,000 loan principle (80% LTV)
- $114,000 cash paid at closing (20% on 80% LTV)
- $18,240 origination points (4% of the $456,000 principle amount)
- $63,840 interest payments (12 months x 14% interest)
-----------------------
= $137,920 net profit
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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
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 ...
i fund cities
448 N 10th Street, Suite 402
Philadelphia, PA 19123
i Fund Cities is a flexible and reliable lending platform providing Kick A$$ Loans to residential real estate investors nationwide. It all started in the city of brotherly love, Philadelphia, where the partners set out on a mission to provide ...
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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