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New Construction Loans in Minot, North Dakota
There are 14 search results for new construction hard money lenders serving Minot, ND. Note amounts average about $1,370,834. Rates for hard money loans average 10.4%. The typical loan made in the city has a length of 24 months. The average origination percentage charged for the loans is 7.7%. Lenders typically offer a 73% loan-to-value on loans in Minot.
Loan Example 1
Jaime is an investor who wants to build a house on a land lot in Minot, ND. The land costs $150,000 and Jaime expects the building costs for the project will be about $250,000. Oceanside Investment Group will contribute to the deal at a 85% loan-to-value (LTV) with a 12%, 18 month new construction loan with 5 origination points paid when the transaction closes. Construction costs are to be paid out in multiple draws and there are no pre-payment penalties assessed. Given this deal scenario, Jaime will have to pay the following: 1) $60,000 down (by the 85% LTV), 2) a $17,000 origination charge ($340,000 principle x 5%), and 3) $3,400 monthly interest payments. If Jaime then sells the house for $540,000 he will make a total profit of $61,800 after re-paying the principle and subtracting the origination fee and total interest payments.
Loan Example 2
Laurie is an investor in Minot, ND. She decides to buy a home lot to construct a new duplex. In order to fund the deal, she applies for a new construction loan from Top Notch Lending Corporation with the following specifications:
a) A $350,000 purchase price for the land plot, b) $250,000 in building costs, c) an 80% loan to value (LTV), d) a 12 month length, e) a 8% interest rate, and f) a 4% origination fee.
Laurie plans to sell the project when the loan expires for $870,000. If she achievs this goal, the deal numbers will be the following:
$870,000 sales price
- $480,000 note principle (80% LTV)
- $120,000 cash paid at closing (20% on 80% LTV)
- $19,200 origination points (4% of the $480,000 principle amount)
- $38,400 interest payments (12 months x 8% interest)
-----------------------
= $212,400 gross profit
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
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 ...
Navigator Private Capital
1910 Towne Centre Blvd. Suite 250
Annapolis, MD 21401
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels. As private money lenders, we fund short- and long-term low-risk development projects ...
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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