Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
New Construction Loans in Cavendish, Vermont
Cavendish, VT has 18 new construction lenders issuing loans in the city. The average note issued is around $810,000. The average rate for hard money loans in Cavendish is 11.1%. The typical length for loans is 18 months. The mean note includes a 5.8 point origination charge. 70% is the mean LTV for offered by lenders in Cavendish.
Loan Example 1
Jessie is a home builder who decides to construct a single family home on a vacant lot in Cavendish, VT. The plot is listed for $400,000 and Jessie expects the construction costs for the project will be approximately $200,000. She obtains a new construction loan from Pretty Perfect Funding Corporation with these terms: 1) a 18 month note at 12% interest, 2) interest-only payments made each month, 3) 3 origination points paid at the closing by the borrower, and 4) a 55% loan-to-value (LTV) on both the plot and the construction costs. There are no pre-payment penalties on the loan and construction costs will be paid out over multiple draws. Given this deal scenario, Jessie will need to contribute the following expenses: 1) $270,000 cash down (based on the 55% LTV), 2) a $9,900 origination charge ($330,000 principle x 3%), and 3) $3,300 monthly interest payments. If Jessie sells the home for $780,000 she will pocket a total profit of $110,700 after re-paying the principle amount and deducting the origination points and cumulative interest.
Loan Example 2
Edward decides to acquire a land lot in Cavendish, VT and construct a new home to resell it. Because he doesn't have the cash to fund the full deal, he obtains a new construction private money loan from Assurance Finance Group with the following parameters:
a) A $290,000 sales price for the land, b) $250,000 in building expenses, c) an 70% loan-to-value (LTV), d) a 6 month length, e) a 8% rate of interest, and f) a 4% origination fee.
Edward intends to sell the project at the end of the term for $700,000. If he succeeds, the final numbers will be the following:
$700,000 sales price
- $378,000 principle on note (70% LTV)
- $162,000 cash paid at closing (30% on 70% LTV)
- $15,120 origination fee (4% of the $378,000 principle amount)
- $15,120 total interest paid (6 months x 8% interest)
-----------------------
= $129,760 total profit
Funding Fix & Flip, Ground-Up Construction, and DSCR loans in 35 States. We're the lender for real estate entrepreneurs looking for fast funding, fair pricing, and amazing service.
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Harbor Private Equity
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Atlanta, GA 30309
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Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75071
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Peak Choice Capital
601 Silver Creek Drive
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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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 ...
Kings of Capital
550 Pinetown Rd
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Lend Some Money
42 Thompson Street, Suite 1A
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Primeau Funding
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75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
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Green Knight Funding
600 Loring Avenue, Suite 5
Salem, MA 01907
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