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New Construction Loans in Rowena, South Dakota
There are 12 records for new construction lenders operating in Rowena, SD. The median loan issued is about $550,000. Rates on private loans made to Rowena borrowers average around 11.7%. The mean length offered for loans is 18 months. The average origination fee for loans is 3.9 points. 74% is the median loan to value (LTV) offered for for loans in Rowena.
Loan Example 1
Fernando is an investor and decides to acquire a vacant lot in Rowena, SD to build a house. Fernando thinks the building expenses will be about $200,000 and the lot costs $400,000. In order to pay for the project, he takes out a new construction loan from Trust Funding Group. They contract to make a note with a 9% rate of interest for 6 months and 2 origination points to be paid at closing. Additionally, they agree to loan 55% of the cumulative expenses (the loan-to-value / "LTV"). Fernando will collect the building expenses in draws and there won't be a pre-payment penalty if he re-pays the note before it expires. Given this deal scenario, Fernando will have to pay the following expenses: 1) $270,000 cash down (by the 55% LTV), 2) a $6,600 origination fee ($330,000 loan principle x 2%), and 3) $2,475 monthly interest payments. If Fernando sells the house for $720,000 he will earn a total profit of $98,550 after re-paying the principle amount and subtracting the origination fee and cumulative interest payments.
Loan Example 2
Edward is an investor who decides to construct a tri-plex on a lot in Rowena, SD. Because he doesn't have enough cash to fund the total purchase, he obtains a construction hard money loan from GJ Finance Group with the following parameters:
a) A $360,000 sales price for the land, b) $400,000 in construction costs, c) an 75% loan-to-value (LTV), d) a 18 month term, e) a 14% interest rate, and f) a 5% origination fee.
After the construction is complete, if Edward sells the property for $910,000, the final numbers will be as follows:
$910,000 sales price
- $570,000 loan principle (75% LTV)
- $190,000 down payment (25% on 75% LTV)
- $28,500 origination fee (5% of the $570,000 principle)
- $119,700 interest payments (18 months x 14% interest)
-----------------------
= $1,800 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
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 ...
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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