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New Construction Loans in Sinai, South Dakota
There are 13 construction private money lenders offering loans in Sinai, SD. The mean loan made is approximately $409,722. Interest rates on hard money loans issued to Sinai borrowers average 11.3%. The mean length offered for loans is 19 months. The mean loan includes a 3.7 point origination cost. The mean loan-to-value (LTV) offered for loans in Sinai is 72%.
Loan Example 1
Winifred is an investor and wants to construct a single family home on a land lot in Sinai, SD. On top of the $280,000 cost of the plot, Winifred estimates she will require about $150,000 in construction costs to finish the house. In order to pay for the transaction, she obtains a construction loan from Dynamic Investment Group. They agree to issue a note with a 14% rate of interest for 18 months and four origination points to be paid at the closing. Additionally, they agree to fund 55% of the cumulative costs (the loan-to-value or "LTV"). They will not assess a pre-payment penalty and they will pay out the construction costs in four draws. According to the stipulations of the note, Winifred will need to fund $193,500 plus $9,460 in origination costs at the closing, then will begin making $2,759 per month payments. When the loan expires, Winifred re-sells the property for $620,000. This will make Winifred a $130,875 net profit after paying back all costs of the loan ($236,500 principle, $193,500 cash at closing, $9,460 origination fee, and $49,665 for 18 months of interest payments).
Loan Example 2
Miguel is an investor and decides to construct a duplex on a land lot in Sinai, SD. He takes out a new construction loan from Progressive Funding with these parameters:
- $220,000 sales price for the land lot
- $250,000 in building costs
- 55% loan-to-value (LTV)
- 12 month length
- 13% interest rate
- 3% origination charge
After the project is finished, if Miguel sells the house for $630,000, the final numbers will be as follows:
$630,000 sales price
- $258,500 note principle (55% LTV)
- $211,500 cash paid at closing (45% on 55% LTV)
- $7,755 origination points (3% of the $258,500 principle)
- $33,605 interest payments (12 months x 13% interest)
-----------------------
= $118,640 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 ...
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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