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New Construction Loans in Mandan, North Dakota
A total of 14 records for construction hard money lenders were found in Mandan, ND. The average amount loaned in this city is $406,250. Rates for private loans average about 11.8%. 19 months is the average length for loans issued in this city. The mean loan includes a 4.1 point origination charge. The average loan-to-value (LTV) for loans in Mandan is 71%.
Loan Example 1
Mindy is a home builder who wants to acquire a home lot in Mandan, ND to build a single family home. In addition to the $380,000 cost of the plot, Mindy expects she will require about $350,000 in building expenses to finish the home. Mountain Rock Investment Group will fund the project at a 50% loan to value (LTV) with a 13%, 18 month new construction loan with 2 origination points to be paid when the transaction closes. Building fees are to be paid in draws and there will be no pre-payment penalties assessed. Given this loan scenario, Mindy will need to pay the following expenses: 1) $365,000 cash down (based on the 50% LTV), 2) a $7,300 origination charge ($365,000 principle x 2%), and 3) $3,954 monthly interest payments. After subtracting all expenses, Mindy will earn a $211,525 total profit if she succeeds in his goal of a $1,020,000 sales price.
Loan Example 2
Sergio wants to acquire a home lot in Mandan, ND to build a single family home and resell it. Because he doesn't have the cash to fund the total project, he takes out a construction hard money loan from Brook View Finance with the following terms:
a) A $360,000 purchase price for the land lot, b) $200,000 in construction costs, c) an 55% loan to value (LTV), d) a 18 month term, e) a 14% interest rate, and f) a 4 point origination fee.
After the building project is complete, if Sergio lists the house for $780,000, the final numbers will be as follows:
$780,000 sales price
- $308,000 principle (55% LTV)
- $252,000 cash paid at closing (45% on 55% LTV)
- $12,320 origination fee (4% of the $308,000 principle)
- $64,680 interest payments (18 months x 14% interest)
-----------------------
= $143,000 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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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 ...
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 ...
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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