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New Construction Loans in Crystal, North Dakota
A total of 14 search results for new construction lenders were found in Crystal, ND. In this city, the average amount loaned is $487,500. Interest rates on private loans issued to Crystal investors average around 9.8%. The average loan made in this city is for 25 months. The average points charged for loans is 2.1%. 79% is the median LTV for offered by lenders in Crystal.
Loan Example 1
Opal is a builder in Crystal, ND. She decides to buy a land lot and construct a new tri-plex. The plot is available for $340,000 and Opal expects that the construction costs for the house will be about $250,000. She applies for a construction loan from Credence Investment Group with these specifications: 1) a 18 month note at 8% interest, 2) interest-only payments made each month, 3) 3 origination points paid at closing by the borrower, and 4) a 80% loan to value (LTV) on the plot purchase and the construction expenses. Opal is to collect the construction expenses in draws and there won't be a pre-payment penalty if she repays the loan early. By this deal scenario, the lender will fund $472,000 of the land and the construction expenses. The borrower will be required to pay $118,000 down, a $14,160 origination fee, and $3,147 monthly in loan payments. When the loan expires, Opal sells the property for $700,000. This will earn Opal a $39,200 total profit after re-paying all expenses of the deal ($472,000 principle amount, $118,000 cash down, $14,160 origination charges, and $56,640 for 18 months of interest payments).
Loan Example 2
Armando is a home builder in Crystal, ND. He decides to buy a lot to construct a new single family home. Since he doesn't have enough cash to pay for the total transaction, he applies for a new construction hard money loan from Hometown Finance Group with the following specifications:
- $320,000 sales price for the vacant plot
- $150,000 in building expenses
- 75% loan to value (LTV)
- 18 month length
- 13% interest rate
- 2% origination charge
After the project is finished, if Armando lists the house for $580,000, the final numbers would be as follows:
$580,000 sales price
- $352,500 principle on note (75% LTV)
- $117,500 down payment (25% on 75% LTV)
- $7,050 origination points (2% of the $352,500 principle)
- $68,738 total interest paid (18 months x 13% interest)
-----------------------
= $34,213 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
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 ...
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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