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New Construction Loans in Nunda, South Dakota
There are 13 new construction hard money lenders operating in Nunda, SD. The mean note issued is approximately $472,500. Interest rates for private loans average about 11.4%. 14 months is the mean term for loans issued in the city. The average hard money loan made in the city includes a 3.6 point origination fee. The average loan to value offered for loans in Nunda is 78%.
Loan Example 1
Phyllis is a real estate investor and she decides to purchase a lot in Nunda, SD to construct a new tri-plex. The lot is listed for $230,000 and Phyllis estimates that the construction costs for the house will be about $400,000. She takes out a construction loan from All State Funding with these stipulations: 1) a 6 month note at 13% interest, 2) interest-only payments made monthly, 3) 3 origination points at the closing by the borrower, and 4) a 70% loan to value (LTV) on the lot and the construction costs. Phyllis will receive the construction costs in draws and there won't be a pre-payment penalty if she repays the note prior to the expiration. Given the specifications of this note, Phyllis will have to fund $189,000 plus $13,230 in origination fees at the closing, then will begin making $4,778 monthly payments. Phyllis's goal is to sell the home for $810,000. If she succeeds, she will earn a total profit of $138,105 after deducting all costs ($441,000 principle amount, $189,000 cash down, $13,230 origination charges and $28,665 for 6 months of interest payments).
Loan Example 2
Deana is a home builder who decides to build a single family home on a vacant lot in Nunda, SD. To fund the transaction, she obtains a construction loan from Urban Investment Corporation with these terms:
- $150,000 sales price for the vacant lot
- $300,000 in construction costs
- 75% loan-to-value (LTV)
- 18 month term
- 9% interest rate
- 3% origination fee
Deana wants to list the project at the end of the term for $600,000. If she achieves her goal, the deal numbers will be the following:
$600,000 sales price
- $337,500 principle on note (75% LTV)
- $112,500 down payment (25% on 75% LTV)
- $10,125 origination fee (3% of the $337,500 principle)
- $45,563 interest payments (18 months x 9% interest)
-----------------------
= $94,313 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 ...
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 ...
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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