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New Construction Loans in Renner, South Dakota
Renner, SD has 13 new construction lenders serving the city. In this city, the average note amount is $400,000. The average rate for loans in Renner is 11.1%. The median term offered for notes is 28 months. The average origination percentage added to loans is 3.0%. The average loan-to-value (LTV) offered for loans in Renner is 76%.
Loan Example 1
Milagros is a home builder and wants to construct a tri-plex on a land plot in Renner, SD. The lot is listed for $340,000 and Milagros thinks the construction costs for the house will be approximately $150,000. Redwood Finance Company will contribute to the deal at a 70% loan-to-value (LTV) with a 9%, 6 month new construction loan with four origination points paid when the deal closes. They will not enforce a pre-payment penalty and they will pay out the construction costs in a few draws. By this loan scenario, the lender will pay $343,000 of the lot and the construction costs. The borrower will be required to pay $147,000 down, a $13,720 origination fee, and $2,573 per month in loan payments. Milagros's goal is to sell the project for $680,000. If she achieves this, she will pocket a net profit of $160,845 after subtracting all expenses ($343,000 principle amount, $147,000 cash down, $13,720 origination fee and $15,435 for 6 months of interest payments).
Loan Example 2
Vivian wants to buy a land plot in Renner, SD to build a new duplex to resell it. Since she does not have the money to fund the total project, she obtains a new construction private money loan from East Side Investment Group with these terms:
- $350,000 sales price for the land lot
- $400,000 in building costs
- 60% loan-to-value (LTV)
- 12 month length
- 9% interest rate
- 2% origination fee
If her achieves a $1,010,000 re-sell after the 12 months, the numbers for this deal will be as follows:
$1,010,000 sales price
- $450,000 principle (60% LTV)
- $300,000 cash paid at closing (40% on 60% LTV)
- $9,000 origination points (2% of the $450,000 principle)
- $40,500 total interest paid (12 months x 9% interest)
-----------------------
= $210,500 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
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 ...
Tusker Capital
6910 Halesboro Drive
Austin, TX 78736
Tusker Capital is your go-to boutique real estate lending firm that provides borrowers with quality financing quickly for fix & flip, bridge, land, new construction, and commercial projects. We're dedicated to providing top-notch customer service at every step. As fellow ...
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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