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Hard Money Loans in Mansfield, South Dakota
A total of 13 search results for private money lenders were found in Mansfield, SD. The median loan amount in this city is $501,111. Rates for private loans average around 11.5%. The mean length offered for notes is 28 months. The mean note includes a 3.9 point origination fee. Lenders in Mansfield average a 69% loan-to-value on their deals.
Loan Example 1
Alan takes a private money loan from Dimension Funding in order to renovate a condo to resale in Mansfield, SD. The price of the house is $330,000. The lender agrees to write a loan with a 65% loan to value (LTV) so they are willing to loan $214,500 on the project. The loan also has the following features: 1) a 18 month term, 2) a 10% interest-only note, and 3) a four point origination charge.
On top of the $8,580 origination fee, Alan will also need to fund $115,500 of the purchase with his own cash, or 35% of the sales price. he must then pay $1,788 monthly to the lender. At the end of the loan, he sells the renovated house for $396,000. After deducting the $32,175 in total interest payments ($1,788 multiplied times 18 months), the $8,580 origination fee, the $214,500 principle amount on the loan, and the $115,500 he brought to the closing, he will make a total profit of $25,245 ($396,000 sales price minus $370,755 in total costs). This profit would be reduced by any rehab costs paid by the borrow.
Loan Example 2
Kelley is a an investor in Mansfield, SD. She buys an older house for a remodeling project and obtains a hard money loan from South Star Lending Group with the following terms:
$320,000 sales price
65% loan-to-value (LTV)
12 month term
13% rate of interest
1% origination fee
Based on a $384,000 sales price at the end of the 12 month term, the final numbers for this deal would look like this:
$384,000 sales price
- $208,000 principle on note (65% LTV)
- $112,000 cash paid at closing (35% on 65% LTV)
- $2,080 origination points (1% of the $208,000 principle)
- $27,040 interest payments (12 months x 13% interest)
-----------------------
= $34,880 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 ...
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. ...
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 ...
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. ...