With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Hard Money Loans in Mellette, South Dakota
A total of 13 records for private money lenders were found in Mellette, SD. In this city, the average note amount is $718,750. Interest rates for loans average around 10.1%. The median loan issued in the city is for 18 months. The average origination percentage added to the loans is 2.5%. 70% is the mean loan to value (LTV) for offered by lenders in Mellette.
Loan Example 1
Maureen takes a loan from Boom Investment Corporation in order to rehab a condo to flip in Mellette, SD. The list price of the property is $310,000. The loan-to-value (LTV) on the loan is 55%. This means that Maureen will bring 45% of the sales price to closing and the principle will be $170,500 on the deal. The loan also has these features: 1) a 6 month term, 2) a 14% interest only note, and 3) a two percent origination fee.
Maureen will have to contribute $139,500 at closing (45% on the 55% loan to value), plus she will need to pay the $3,410 origination fee. she must then pay $1,989 per month to the lender. At the expiration of the note, she sells the rehabed property for $418,500. After deducting the $11,935 in total interest payments ($1,989 multiplied by 6 months), the $3,410 origination fee, the $170,500 principle on the note, and the $139,500 she contributed to closing, she will earn a gross profit of $93,155 ($418,500 sales price minus $325,345 in costs). This amount would be reduced by any rehab costs paid by the borrow.
Loan Example 2
Jacob finds a house in Mellette, SD to renovate and re-sell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Downtown Finance Company with the following parameters:
a) A $150,000 sales price, b) a 60% loan-to-value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 1% origination fee.
Based on a $202,500 sales price after the 12 month term, the outcome for the project would look like the following:
$202,500 sales price
- $90,000 principle on note (60% LTV)
- $60,000 cash paid at closing (40% on 60% LTV)
- $900 origination points (1% of the $90,000 principle)
- $7,200 interest payments (12 months x 8% interest)
-----------------------
= $44,400 total profit (does not include taxes or renovation 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, ...
"WE LEND YOU GROW" Xpress Loans 911 believes that your business should have ready access to working capital, just like big corporations do. So, we pair you with funders that focus on working with small and mid-sized businesses and are ...
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. ...
Your Information is Processing