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New Construction Loans in St Albans, Vermont
Saint Albans, VT has 18 new construction lenders offering loans within the city. The median amount loaned is $420,000. Rates on loans made to Saint Albans borrowers average about 10.2%. The median term for notes is 22 months. The mean origination percentage applied to loans is 2.8%. Lenders in Saint Albans average a 71% loan to value (LTV) on their deals.
Loan Example 1
Tommy is a builder in Saint Albans, VT. He wants to purchase a lot and construct a new single family home. The construction costs will be around $150,000 and the plot costs $150,000. He obtains a construction loan from River City Finance with these parameters: 1) a 18 month note at 13% interest, 2) interest only payments made every month, 3) 5 origination points at closing by the borrower, and 4) a 75% loan-to-value (LTV) on the lot and the construction costs. There will be no pre-payment penalties on the loan and construction costs will be paid in a few draws. By this loan scenario, Tommy will need to contribute the following: 1) $75,000 down (by the 75% LTV), 2) a $11,250 origination fee ($225,000 loan principle x 5%), and 3) $2,438 monthly interest payments. After deducting all costs, Tommy will pocket a $34,875 total profit if he succeeds in his goal of a $390,000 sales price.
Loan Example 2
Sonya is a home builder and she decides to acquire a home lot in Saint Albans, VT in order to construct a tri-plex. She obtains a new construction loan from Dimension Funding Company with the following specifications:
- $210,000 sales price for the vacant plot
- $150,000 in building expenses
- 85% loan to value (LTV)
- 18 month term
- 14% rate of interest
- 2% origination charge
Sonya plans to list the house at the end of the term for $500,000. If she achieves her goal, the final numbers will be as follows:
$500,000 sales price
- $306,000 principle on note (85% LTV)
- $54,000 cash paid at closing (15% on 85% LTV)
- $6,120 origination points (2% of the $306,000 principle)
- $64,260 total interest paid (18 months x 14% interest)
-----------------------
= $69,620 gross profit
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Funding Fix & Flip, Ground-Up Construction, and DSCR loans in 35 States. We're the lender for real estate entrepreneurs looking for fast funding, fair pricing, and amazing service.
Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
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 ...
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75071
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
Park Place Finance is a nationwide, direct private lender, specializing in Fix and Flip, Bridge, and DSCR loans. With same day approvals and an average 3-5 day close time, Park Place Finance is the business partner you need to get ...
Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new construction loans, ...
Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
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. ...
Green Knight Funding
600 Loring Avenue, Suite 5
Salem, MA 01907
Based in Salem, MA, Green Knight Funding is a hard money lender offering funding throughout Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, Maine, and Florida. They offer lending solutions for a variety of situations and needs, including fix ...
Father & Son Private Money Lending is a hard money lender providing loans in Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut. They provide fix-and-flip hard money loans, private refinancing, ground up construction loans, commercial loans, ...
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