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New Construction Loans in Jamestown, North Dakota
Jamestown, ND has 14 construction hard money lenders operating in the city. The average amount loaned is $558,929. Interest rates on private loans issued to Jamestown borrowers average about 10.1%. The mean loan made in this city is for 21 months. The average points charged for the loans is 2.3%. 76% is the mean LTV for for loans in Jamestown.
Loan Example 1
Ora is a real estate investor and wants to build a single family home on a vacant lot in Jamestown, ND. Ora thinks that the building costs will be around $300,000 and the land will cost $350,000. She obtains a new construction loan from Top Dog Finance with the following terms: 1) a 6 month note at 9% interest, 2) interest-only payments made every month, 3) 2 origination points paid at the closing by the borrower, and 4) a 75% loan-to-value (LTV) on the plot and the building costs. They will not assess a pre-payment penalty and they will pay out the building costs in three draws. The borrower will need to pay $3,656 per month in interest payments on top of $162,500 down, plus a $9,750 origination fee at the closing. Ora's plan is to sell the new home for $810,000. If she succeeds, she will earn a gross profit of $128,313 after subtracting all expenses ($487,500 principle, $162,500 cash down, $9,750 origination fee and $21,938 for 6 months of payments).
Loan Example 2
Kelly wants to acquire a lot in Jamestown, ND and construct a new duplex and sell it for a profit. She obtains a new construction loan from West Star Investment Corporation with these stipulations:
a) A $320,000 purchase price for the vacant plot, b) $300,000 in construction costs, c) an 60% loan-to-value (LTV), d) a 6 month term, e) a 11% rate of interest, and f) a 2 point origination fee.
After the construction is complete, if Kelly lists the house for $770,000, the final numbers will be the following:
$770,000 sales price
- $372,000 principle on note (60% LTV)
- $248,000 down payment (40% on 60% LTV)
- $7,440 origination fee (2% of the $372,000 principle)
- $20,460 interest payments (6 months x 11% interest)
-----------------------
= $122,100 total profit
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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 ...
Ridge Street
7901 4th St N Suite
St. Petersburg, FL 10265
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.
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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