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Hard Money Loans in Hazel, South Dakota
Hazel, SD has 13 hard money lenders offering loans within the city. Note amounts average around $394,792. Interest rates on hard money loans made to Hazel borrowers average around 10.2%. The typical length offered for loans is 40 months. The average loan includes a 2.5 point origination cost. The typical LTV offered for loans in Hazel is 71%.
Loan Example 1
Prime Time Investment Company makes a hard money loan to Morris for a rehab project in Hazel, SD, on a property that is listed for $260,000. The borrower will be required to bring 30% of the sales price in cash to closing based on a 70% loan-to-value stipulated by the lender. This makes the loan principle from Prime Time Investment Company $182,000. The parameters of the note also include a four percent origination fee that will be paid at closing and a 6 month, interest-only note with a 14% rate of interest.
On top of the $7,280 origination fee, Morris will also fund $78,000 of the purchase with his own money, or 30% of the sales price. The monthly interest-only payments will then total $2,123 to Prime Time Investment Company. Morris's intention is to finish the renovation within the 6 months and resell it for $390,000. If he succeeds he will earn a gross profit of $109,980 ($390,000 sales price - $182,000 principle - $78,000 funds brough to closing - $7,280 origination points - $12,740 in total interest paid.
Loan Example 2
Clifford is a an investor in Hazel, SD. He finds an older townhouse for a rehab project and obtains a private money loan from Progressive Funding Company with the following paramters:
a) A $180,000 sales price, b) a 65% loan-to-value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 4% origination fee.
Based on a $225,000 sales price after the 18 month term, the outcome for the deal would look like the following:
$225,000 sales price
- $117,000 principle on note (65% LTV)
- $63,000 cash paid at closing (35% on 65% LTV)
- $4,680 origination fee (4% of the $117,000 principle amount)
- $14,040 total interest paid (18 months x 8% interest)
-----------------------
= $26,280 gross profit (does not include taxes or renovation costs)
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CMN Funding
1510 Central Ave, Suite 380
Albany, NY 12205
Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial real estate loans. They issue loan amounts starting at $100,000 with no maximum. They will ...
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 ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
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. ...
Figure.com
650 California Street, Suite 2700
San Francisco, CA 94108
At Figure, we're transforming home equity by creating a faster, simpler and more transparent way to meet your financial goals. Learn how to use the equity in your home to consolidate debt, pay for home improvement, or fund your goals. ...
National Advance Group
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
AMUSA Commercial Capital
301 Commerce Street Ste. 1420
Fort Worth, TX 76102
AMUSA Commercial Capital is a Dallas, TX based private money lender. They provide funding throughout the country. Their lending focus is mainly on non-bankable commercial real estate loans and Investment 1 to 4 loans. Their loan guidelines are flexible, including ...
ABC Capital Investments
1218 N. Marshall Street
Philadelphia, PA 19122
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
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. ...