Based in Delray Beach, Gelt Financial since 1989 is a private money lender offering commercial non bank mortgages national. We offer loans for many different situations and needs, including rental property loans, private commercial loans, fix-and-flip hard money loans, hard ...
Bridge Loans in Bismarck, North Dakota
Bismarck, ND has 16 lenders operating within the city. The median loan amount is $301,000. Interest rates on hard money loans made to Bismarck borrowers average 11.6%. 20 months is the median length for loans made in the city. The average points charged on loans is 3.7%. Lenders offer on average a 72% loan-to-value (LTV) on loans in Bismarck.
Loan Example 1
Samuel closes on a $350,000 rehab project in Bismarck, ND, using a bridge loan from Friendly Finance. The borrower will be required to fund 30% of the purchase price in cash to the closing based on a 70% loan to value set by the lender. This makes the loan principle from Friendly Finance $245,000. The interest rate on the note is 11% for a term of 18 months and the company requires a four point origination fee at closing. The interest payments are to be paid on a monthly basis and the principle will be paid back after the sale of the property.
By the parameters of the deal, Samuel will have to contribute a $9,800 origination fee plus 30% of the purchase price, or $105,000, based on the 70% LTV. The monthly interest only payments will then be $2,246 to Friendly Finance. At the expiration of the note, he sells the renovated house for $437,500. After deducting the $40,425 in interest payments ($2,246 times 18 months), the $9,800 origination fee, the $245,000 principle amount on the note, and the $105,000 he brought to the closing, he will make a gross profit of $37,275 ($437,500 price minus $400,225 in total costs). This profit would be reduced by any renovation costs paid by the borrow.
Loan Example 2
Javier locates a townhouse in Bismarck, ND to rehab and resell. Since he does not have enough cash to buy the property outright, he takes a private money bridge loan from Famous Lending Company with the following parameters:
$400,000 purchase price
75% loan to value (LTV)
6 month term
14% rate of interest
5% origination fee
Once the rehab project is completed, if Javier sells the house for $520,000, the numbers would be as follows:
$520,000 sales price
- $300,000 principle on note (75% LTV)
- $100,000 cash paid at closing (25% on 75% LTV)
- $15,000 origination points (5% of the $300,000 principle)
- $21,000 interest payments (6 months x 14% interest)
= $84,000 gross profit (doesn't include taxes or renovation costs)
Global Capital Partners
274 Madison Avenue, Suite 901
New York, NY 10016
A diverse portfolio of lending services, an experienced in-house underwriting staff, and theability to tailor financing options to a client's individual needs have made Global CapitalPartners a household name in New York's commercial lending industry. Global Capital Partnershas long provided ...
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $6.6 Billion life-to-date in total loan volume to real estate ...
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 ...
Patch of Land
15000 Ventura Blvd Ste 202
Sherman Oaks, CA 91403
Patch of Land is an asset-based lender based in Los Angeles, CA offering funding all throughout the US. They offer short term bridge loans, private commercial loans, long term rental property loans, refinancing, and fix and flip loans. ...
Rapid Commercial Loans
8855 Preston Trace Blvd, Suite 200
Frisco, TX 75033
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 ...
3014 N. Hayden Rd Suite 115
Scottsdale, AZ 85251
Capstone Financial is a Scottsdale, AZ based hard money lender who provides loans all across the US. They provide lending solutions for a variety of needs and situations, including cash out loans, fix and flip hard money loans, short ...
Capital Funding Services
3250 NE 1st Ave, Suite 305
Miami, FL 33137
Capital Funding Services Corporation has funding partners nationwide to help Get the Funding You Need. Hard Money | Private Money: Commercial, Residential, and Land | Refi-Cash Out, Fixed Term Loans, Cash Advances, Short-Term Bridge Loans, Long-Term Loans, Fix n ...
100 Lanidex Plaza
Parsippany, NJ 07054
Stratton Equities is the Nationwide leading hard money lender. We are passionate about helping small business owners, contractors, and Real Estate investors, swiftly and efficiently finance their investment goals. We customize our hard money loan programs for each unique project ...
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
2150 Coral Way | Suite 1A
Miami, FL 33145
Gokapital Mortgage is a Miami, FL based private lender who provides funding all throughout the US. They provide lending solutions for a variety of situations, including loans for rental properties, cash out hard money loans, fix-and-flip loans, hard money ...
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. ...
800 W. Main Street, Suite 1100
Boise, ID 83702
A10 Capital is a Boise, ID based private money lender. They offer loans all throughout the United States. They provide commercial loans and short term bridge loans. Their lending parameters are versatile, including terms between 3 ...
Commercial Loan Direct
5555 Glenridge Connector
Atlanta, GA 30342
Commercial Loan Direct is an Atlanta, GA based private money lender. They offer funding throughout the United States. They provide lending solutions for many different situations and needs, including commercial hard money loans and hard money bridge loans. ...
Capital Line Funding Group
888 Prospect Street, #200
La Jolla, CA 92037
Capital Line Funding Group is hard money lender headquartered in La Jolla, CA. They provide funding all throughout the country. They offer short term loans, private refinancing, commercial loans, fix-and-flip loans, and construction loans. Their ...
National Equity Funding
P.O. Box 51182
Irvine, CA 92619
National Equity Funding is private money lender based in Irvine, CA. They offer funding throughout the country. They offer fix and flip hard money loans, investment property loans, commercial loans, construction loans, and short term loans. ...