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New Construction Loans in Pierre, South Dakota
A total of 13 records for new construction hard money lenders were found in Pierre, SD. In this city, the average note amount is $426,786. Interest rates on hard money loans issued to Pierre investors average about 11.4%. The typical note issued in the city has a length of 19 months. The mean origination fee added to the loans is 3.1%. Lenders in Pierre average a 76% loan to value on their deals.
Loan Example 1
Lewis is a home builder who decides to construct a single family home on a vacant lot in Pierre, SD. The building costs will be about $250,000 and the lot costs $250,000. Easy Brook Funding will contribute to the project at a 70% loan to value (LTV) with a 8%, 12 month new construction loan with four origination points to be paid at closing. Construction fees are to be paid out in multiple draws and there are no pre-payment penalties charged. The borrower will be required to pay $2,333 per month in loan payments in addition to $150,000 down, plus a $14,000 origination charge at the closing. Lewis's plan is to sell the project for $700,000. If he succeeds, he will earn a total profit of $158,000 after deducting all expenses ($350,000 principle, $150,000 cash down, $14,000 origination charges and $28,000 for 12 months of payments).
Loan Example 2
Johnny is a builder in Pierre, SD. He wants to acquire a land plot to build a new house. He takes a new construction loan from Blue Door Lending Corporation with these stipulations:
- $150,000 purchase price for the vacant lot
- $400,000 in building costs
- 65% loan-to-value (LTV)
- 6 month length
- 11% interest rate
- 2% origination charge
If Johnny succeeds in his goal of a $680,000 sales price, the final numbers of the project would be the following:
$680,000 sales price
- $357,500 loan principle (65% LTV)
- $192,500 down payment (35% on 65% LTV)
- $7,150 origination fee (2% of the $357,500 principle amount)
- $19,663 total interest paid (6 months x 11% interest)
-----------------------
= $103,188 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 ...
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 ...
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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