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Hard Money Loans in Volin, South Dakota
There are 13 private money lenders operating in Volin, SD. The average note amount in the city is $370,625. The average interest rate for loans in Volin is 12.3%. 20 months is the average term for loans made in the city. The average hard money loan offered in the city includes a 5.0 point origination fee. 68% is the median LTV for for loans in Volin.
Loan Example 1
George closes on a $270,000 renovation project in Volin, SD, using a private money loan from Dimension Funding Group. The lender agrees to write a loan with a 55% loan to value (LTV) so they are willing to loan $148,500 on the property. The parameters of the loan dictate a 8% note for 12 months. They also stipulate a 3 point origination fee, that will also need to be paid when the property closes.
The borrower will need to fund a total of $32,400 up front to cover the $121,500 down payment in addition to the $4,455 origination fee. The lender will collect $990 in monthly interest from the George. This is computed by taking the full note amount of $148,500, multiplying by the 8% interest rate, and then dividing that amount by 12. If George sells the property for $391,500 after 12 months, he would then make a total profit of $105,165 after deducting the principle of $148,500, the cash contributed at the close of $121,500, the origination points of $4,455, and the aggregate interest payments of $11,880. This amount does not include remodeling costs.
Loan Example 2
Sonya takes out a hard money loan from Rolling Brook Lending so she can remodel a property to flip in Volin, SD. The loan has the following terms:
a) A $200,000 purchase price, b) a 60% loan-to-value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 1% origination fee.
Sonya intends to list the house when the note expires for $280,000. If she accomplishes her goal, the deal numbers would be as follows:
$280,000 sales price
- $120,000 note principle (60% LTV)
- $80,000 cash paid at closing (40% on 60% LTV)
- $1,200 origination points (1% of the $120,000 principle amount)
- $4,800 total interest paid (6 months x 8% interest)
-----------------------
= $74,000 gross profit (does not include taxes or renovation 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. ...
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