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 ...
Bridge Loans in Fargo, North Dakota
We found 13 search results for hard money bridge lenders offering loans in Fargo, ND. Note amounts average around $430,357. Interest rates on private loans issued to Fargo borrowers average about 10.8%. The typical note issued in the city is 27 months in length. The average loan includes a 3.3 percent origination fee. Lenders in Fargo average a 71% LTV on their loans.
Loan Example 1
Peter takes a bridge loan from East Star Funding Company in order to remodel a duplex to resale in Fargo, ND. The sales price of the property is $270,000. The borrower will have to fund 50% of the purchase price in cash to closing based on a 50% loan to value set by the lender. This makes the principle note from East Star Funding Company $135,000. The interest rate on the note is 12% for a term of 18 months and the lender requires a five point origination fee at the close. The interest is to be paid monthly and the principle will be returned after the sale of the property.
Accordingly, the borrower will have to contribute a $135,000 down payment plus pay a $6,750 origination fee. After the deal closes, he will pay East Star Funding Company $1,350 in monthly interest fees, or 12% multiplied by $135,000 divided by 12 months in the year. If Peter accomplishes his goal of a $378,000 sales price at the end of the loan term, he would earn a total profit of $76,950 after repaying the principle and deducting the cash he paid at closing, the origination fee, and the total interest payments.
Loan Example 2
Gene finds a townhouse in Fargo, ND to renovate and resell. Because he does not have enough cash to buy the property outright, he takes a bridge loan from Credence Finance Company with the following parameters:
$170,000 purchase price
70% loan to value (LTV)
12 month term
11% interest rate
5% origination fee
Based on a $229,500 sales price at the end of the 12 month term, the numbers for the project would look like the following:
$229,500 sales price
- $119,000 principle (70% LTV)
- $51,000 cash paid at closing (30% on 70% LTV)
- $5,950 origination points (5% of the $119,000 principle amount)
- $13,090 total interest paid (12 months x 11% interest)
= $40,460 total profit (doesn't include taxes or renovation costs)
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
(407) 878-2830 Website
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 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. ...
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 ...
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 ...
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 ...
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. ...
George Smith Partners
10250 Constellation Blvd, Suite 2700
Los Angeles, CA 90067
(310) 557-8336 Website
George Smith Partners is a Los Angeles, CA based hard money lender. They provide loans all throughout the US. They provide loans for a variety of situations and needs, including hard money loans for commercial properties, short term ...
Black Square is a hard money lender based in Salt Lake City, UT providing funding all throughout the United States. They offer lending solutions for a variety of situations, including bridge loans, fix and flip hard money loans, ...
Aspen Capital Funding
9400 SW Beaverton-Hillsdale Hwy, Suite 131
Beaverton, OR 97005
(503) 295-5800 Website
Aspen Capital Funding is a Beaverton, OR based hard money lender offering funding all across the country. They provide hard money bridge loans, commercial loans, and hard money construction loans. They offer loan amounts ranging from ...
Nova Bridge Capital is a private money lender headquartered in New York, NY offering funding throughout the country. They provide rental property loans, cash out loans, fix-and-flip hard money loans, short term loans, and commercial hard money loans. ...
Bridge Loan Store is an asset-based lender headquartered in Portland, OR offering funding all across the US. They offer commercial hard money loans and short term loans. They offer loan amounts ranging from $500,000 to $2,000,000 with ...
360 CB Capital Funding
711 Westchester Avenue, Suite 202
White Plains, NY 10604
(914) 422-3204 Website
360 CB Capital Funding is a White Plains, NY based hard money lender. They provide funding all across the US. They provide ground up construction loans, short term loans, long term rental property loans, cash out loans, fix ...