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New Construction Loans in Oldham, South Dakota
A total of 13 records for construction private money lenders were found in Oldham, SD. The average loan amount is $1,397,500. The average interest rate for hard money loans in Oldham is 11.2%. The mean length offered for notes is 22 months. The average note includes a 3.5 point origination charge. 76% is the median LTV offered for offered by lenders in Oldham.
Loan Example 1
Salvador is an investor in Oldham, SD. He wants to buy a home lot to construct a new single family home. In addition to the $290,000 cost of the plot, Salvador approximates he will require about $200,000 in construction expenses to complete the project. To pay for the project, he takes a new construction loan from Advanced Lending. They agree to issue a note with a 9% rate of interest for 6 months and 5 origination points to be paid when the deal closes. Additionally, they agree to contribute 70% of the total expenses (the loan-to-value or "LTV"). Building costs are to be paid out in multiple draws and there are no pre-payment penalties assessed. The borrower will have to pay $2,573 per month in note payments in addition to $147,000 down, plus a $17,150 origination charge at the closing. After deducting all expenses, Salvador will make a $157,415 gross profit if he succeeds in his goal of a $680,000 sales price.
Loan Example 2
Christi is a home builder and decides to construct a house on a lot in Oldham, SD. Because she doesn't have the cash to fund 100% of the purchase, she takes out a construction private money loan from Mountain Rock Funding Corporation with these terms:
- $350,000 sales price for the lot
- $400,000 in construction costs
- 50% loan-to-value (LTV)
- 18 month term
- 11% rate of interest
- 5% origination fee
If Christi achieves her goal of a $1,080,000 sales price, the final numbers of the project will be the following:
$1,080,000 sales price
- $375,000 loan principle (50% LTV)
- $375,000 cash paid at closing (50% on 50% LTV)
- $18,750 origination points (5% of the $375,000 principle)
- $61,875 interest payments (18 months x 11% interest)
-----------------------
= $249,375 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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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 ...
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 ...
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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