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Hard Money Loans in Irene, South Dakota
There are 13 results for private money lenders operating in Irene, SD. The average amount loaned in this city is $368,750. The average interest rate for private loans in Irene is 12.0%. The mean note issued in this city is 21 months in length. The mean origination fee for loans is 3.5 points. The average LTV offered for loans in Irene is 65%.
Loan Example 1
Number One Investment Group makes a hard money loan to Warren for a renovation project in Irene, SD, on a property that is listed for $350,000. The loan-to-value (LTV) on the deal is 70%. This means that Warren will bring 30% of the purchase price to the closing and the principle amount will be $245,000 on the loan. The parameters of the deal dictate a 8% note for 18 months. They also require a 2 point origination fee, which will also need to be paid when the property closes.
Warren will need to bring $105,000 to closing (30% on the 70% loan-to-value), plus he will have to pay the $4,900 origination fee. The monthly interest-only payments will then total $1,633 to Number One Investment Group. If Warren sells the renovated project for $420,000 at the end of the 18 month term, his gross profit (not including rehab costs) would be $35,700. This is calculated by taking the purchase price ($420,000) and subtracting the original note amount ($245,000), the origination fee ($4,900), the cash he brought to closing ($105,000), and the total interest payments ($29,400).
Loan Example 2
Progressive Investment Corporation issues a hard money loan to Annette for a rehab project in Irene, SD. The deal dictates the following:
$290,000 purchase price
50% loan to value (LTV)
6 month term
8% rate of interest
1% origination fee
Annette plans to list the property at the end of the term for $377,000. If she succeeds, the final numbers will be the following:
$377,000 sales price
- $145,000 principle on note (50% LTV)
- $145,000 cash paid at closing (50% on 50% LTV)
- $1,450 origination points (1% of the $145,000 principle amount)
- $5,800 total interest paid (6 months x 8% interest)
-----------------------
= $79,750 total profit (does not include taxes or rehab 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 ...
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. ...
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 ...
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. ...
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. ...