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Hard Money Loans in Kranzburg, South Dakota
Kranzburg, SD has 13 lenders serving the city. The median loan amount in this city is $319,643. Rates for hard money loans average about 10.0%. The mean note issued in this city has a length of 44 months. The average origination fee for the loans is 4.3 percent. Lenders typically offer a 70% loan-to-value (LTV) on deals in Kranzburg.
Loan Example 1
Tony finds a house in Kranzburg, SD to flip and resell. Since he does not have enough cash on-hand to acquire the $370,000 house outright, he takes out a hard money loan from South End Finance. The lender agrees to write a loan with a 75% loan-to-value (LTV) so they are willing to loan $277,500 on the project. The parameters of the loan dictate a 11% note for 12 months. They also require a 1 point origination fee, that will also have to be paid at closing.
By the parameters of the deal, Tony will need to contribute a $2,775 origination fee plus 25% of the sales price, or $92,500, based on the 75% LTV. The monthly interest-only payments will then total $2,544 to South End Finance. At the end of the loan, he sells the renovated property for $481,000. After deducting the $30,525 in interest expenses ($2,544 multiplied times 12 months), the $2,775 origination fee, the $277,500 principle amount on the loan, and the $92,500 he contributed to closing, he will make a gross profit of $77,700 ($481,000 sales price minus $403,300 in total costs). This profit would be reduced by any renovation costs paid by Tony.
Loan Example 2
Elizabeth is a real estate investor in Kranzburg, SD. She purchases a run-down house for a rehab project and takes out a private money loan from Evergreen Finance Corporation with the following terms:
$390,000 sales price
50% loan-to-value (LTV)
12 month term
14% interest rate
5% origination fee
Elizabeth intends to sell the house at the end of the term for $526,500. If she succeeds, the outcome will be the following:
$526,500 sales price
- $195,000 loan principle (50% LTV)
- $195,000 cash paid at closing (50% on 50% LTV)
- $9,750 origination fee (5% of the $195,000 principle amount)
- $27,300 interest payments (12 months x 14% interest)
-----------------------
= $99,450 gross profit (doesn't 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 ...
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. ...
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. ...