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Hard Money Loans in Strandburg, South Dakota
A total of 13 search results for private money lenders were found in Strandburg, SD. The mean note made to borrowers is about $490,750. Interest rates for private loans average around 11.1%. 28 months is the mean term for loans offered in the city. The average origination percentage added to the loans is 2.8%. 73% is the typical loan-to-value for for loans in Strandburg.
Loan Example 1
Suburban Investment Group makes a private money loan to Josefina for a rehab project in Strandburg, SD, on a property that is listed for $260,000. The terms of the deal include a 70% loan-to-value (LTV), so she must contribute 30% of the price as cash to closing, which makes the principle note amount $182,000. The loan also includes these features: 1) a 6 month term, 2) a 9% interest only note, and 3) a four percent origination charge.
The borrower will need to contribute a total of $32,400 upon closing to pay the $78,000 down payment in addition to the $7,280 origination fee. Once the loan closes, she will pay Suburban Investment Group $1,365 in monthly interest fees, or 9% multiplied times $182,000 divided by 12 months in the year. If Josefina sells the property for $377,000 after 6 months, she would make a total profit of $101,530 after subtracting the principle of $182,000, the cash contributed at closing of $78,000, the origination fee of $7,280, and the aggregate interest payments of $8,190. This gross profit does not include building costs.
Loan Example 2
Kyle takes out a loan from Sunrise Finance Corporation so he can renovate a house to resell in Strandburg, SD. The deal has the following terms:
$320,000 purchase price
55% loan to value (LTV)
18 month term
8% rate of interest
2% origination fee
Kyle intends to list the property when the note expires for $448,000. If he accomplishes his goal, the deal numbers would be the following:
$448,000 sales price
- $176,000 loan principle (55% LTV)
- $144,000 cash paid at closing (45% on 55% LTV)
- $3,520 origination points (2% of the $176,000 principle)
- $21,120 interest payments (18 months x 8% interest)
-----------------------
= $103,360 gross profit (does not 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 ...
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. ...
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. ...
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. ...