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!
New Construction Loans in Lyndon, Vermont
There are 18 records for construction private money lenders serving Lyndon, VT. Note amounts average around $516,667. Interest rates on loans made to Lyndon borrowers average around 9.6%. 27 months is the median term for loans issued in the city. The average loan includes a 7.3 percent origination fee. The mean LTV offered for loans in Lyndon is 71%.
Loan Example 1
Rebekah decides to purchase a land plot in Lyndon, VT and construct a tri-plex to re-sell it for a profit. Rebekah expects that the construction expenses will be approximately $150,000 and the lot is listed for $320,000. Superior Investment Corporation issues a 65% loan to value (LTV) construction loan to Rebekah so she can fund the deal. They agree to a 8% interest rate for 6 months plus a five point origination fee. There will be no pre-payment penalties on the note and construction expenses will be paid over several draws. The borrower will be required to pay $2,037 monthly in note payments in addition to $164,500 down, plus a $15,275 origination fee at the closing. Rebekah's intent is to sell the house for $680,000. If she succeeds, she will earn a gross profit of $182,505 after deducting all expenses ($305,500 principle amount, $164,500 cash down, $15,275 origination charges and $12,220 for 6 months of interest payments).
Loan Example 2
Ernestine is a home builder and she wants to build a tri-plex on a vacant lot in Lyndon, VT. Since she doesn't have the cash to pay for the full transaction, she applies for a construction hard money loan from Blue Mountain Investment Company with these stipulations:
a) A $380,000 sales price for the vacant lot, b) $200,000 in construction costs, c) an 55% loan-to-value (LTV), d) a 18 month term, e) a 8% interest rate, and f) a 4 point origination fee.
After the construction is complete, if Ernestine sells the property for $870,000, the final numbers would be as follows:
$870,000 sales price
- $319,000 note principle (55% LTV)
- $261,000 cash paid at closing (45% on 55% LTV)
- $12,760 origination points (4% of the $319,000 principle amount)
- $38,280 total interest paid (18 months x 8% interest)
-----------------------
= $238,960 gross profit
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.
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Harbor Private Equity
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Global Integrity Finance
321 N Central Expressway, Suite 360
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Peak Choice Capital
601 Silver Creek Drive
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Sunset Equity Funding
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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REI Capital
5660 Strand Court
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Tusker Capital
6910 Halesboro Drive
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42 Thompson Street, Suite 1A
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Green Knight Funding
600 Loring Avenue, Suite 5
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