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New Construction Loans in North Sioux City, South Dakota
A total of 13 results for construction private money lenders were found in North Sioux City, SD. The average loan amount is $442,500. Interest rates for hard money loans average about 10.0%. The average note issued in this city has a length of 15 months. The mean points applied to the loans is 4.5%. Lenders offer on average a 72% loan to value (LTV) on hard money loans in North Sioux City.
Loan Example 1
Doreen wants to buy a vacant lot in North Sioux City, SD to build a house and sell it. The lot is available for $240,000 and Doreen expects that the construction costs for the project will be around $300,000. To fund the deal, she obtains a construction loan from Assurance Finance Company. They agree to issue a note with a 12% interest rate for 6 months and 2 origination points to be paid at the closing. Additionally, they agree to contribute 55% of the cumulative costs (the loan-to-value / "LTV"). Building costs are to be paid out in multiple draws and there will be no pre-payment penalties charged. The borrower will have to pay $2,970 per month in note payments in addition to $243,000 down, plus a $5,940 origination charge at the closing. When the loan expires, Doreen re-sells the project for $810,000. This will earn Doreen a $246,240 total profit after paying off all costs of the deal ($297,000 principle, $243,000 cash at closing, $5,940 origination fee, and $17,820 for 6 months of interest payments).
Loan Example 2
Delia is a real estate investor and she decides to build a single family home on a land plot in North Sioux City, SD. Because she does not have the money to pay for the full transaction, she takes out a construction private money loan from Progressive Investment Company with these specifications:
a) A $200,000 sales price for the plot, b) $350,000 in construction costs, c) an 55% loan-to-value (LTV), d) a 6 month length, e) a 8% rate of interest, and f) a 2 point origination charge.
If her achieves a $660,000 sales price after the 6 months, the numbers for this deal would look like this:
$660,000 sales price
- $302,500 principle on note (55% LTV)
- $247,500 cash paid at closing (45% on 55% LTV)
- $6,050 origination fee (2% of the $302,500 principle)
- $12,100 interest payments (6 months x 8% interest)
-----------------------
= $91,850 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 ...
Navigator Private Capital
1910 Towne Centre Blvd. Suite 250
Annapolis, MD 21401
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels. As private money lenders, we fund short- and long-term low-risk development projects ...
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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