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Hard Money Loans in Henry, South Dakota
Henry, SD has 13 hard money lenders issuing loans in the city. Loan amounts average around $584,722. Rates on loans issued to Henry investors average around 10.3%. 18 months is the average length for notes issued in this city. The mean origination fee applied to loans is 2.5%. Lenders typically offer a 67% loan to value on loans in Henry.
Loan Example 1
Susana finds a townhouse in Henry, SD to renovate and re-sell. Since she doesn't have enough cash on-hand to purchase the $240,000 project outright, she decides to take out a hard money loan from Affluent Investments. The terms of the loan include a 70% loan to value (LTV), so she must bring 30% of the price as cash at closing, making the principle loan amount $168,000. The loan is interest-only, with monthly payments, and is for 6 months at 10% interest with 2 points paid when the deal closes.
By the parameters of the loan, Susana will have to pay a $3,360 origination fee in addition to 30% of the sales price, or $72,000, since there is a 70% LTV. she must then pay $1,400 per month to Affluent Investments. Susana's plan is to complete the project by the end of the 6 months and re-sell it for $300,000. If she succeeds she will earn a profit of $48,240 ($300,000 price - $168,000 principle amount - $72,000 funds brough to closing - $3,360 origination points - $8,400 in total interest paid.
Loan Example 2
Pretty Perfect Finance Group makes a hard money loan to Laurie for a rehab project in Henry, SD. The loan dictates the following:
$170,000 purchase price
55% loan to value (LTV)
18 month term
14% interest rate
3% origination fee
Laurie plans to list the property at the end of the term for $204,000. If she succeeds, the final numbers would be the following:
$204,000 sales price
- $93,500 note principle (55% LTV)
- $76,500 down payment (45% on 55% LTV)
- $2,805 origination fee (3% of the $93,500 principle)
- $19,635 interest payments (18 months x 14% interest)
-----------------------
= $11,560 gross profit (doesn't include taxes or rehab costs)
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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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 ...
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. ...
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 ...
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 ...
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. ...
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. ...