Minnesota Bridge Loans
A total of 19 search results for private money bridge lenders were found in Minnesota. The average loan made to borrowers is about $297,822. Rates for hard money loans average around 11.0%. The typical loan issued in the state has a length of 22 months. The average origination fee charged for loans is 2.6%. 70% is the average loan to value (LTV) for offered by lenders in Minnesota.
Loan Example 1
Nikki is a house flipper in Circle Pines, MN. She finds an older property for sale and wants to remodel it and sell it for a profit. The property has a cost of $280,000 but she doesn't have the full amount so she obtains a hard money bridge loan with Dynamic Investment Company. The terms of the deal include a 65% loan-to-value (LTV), so she must contribute 35% of the price as cash to closing, making the principle note amount $182,000. The deal also has the following features: 1) a 12 month length, 2) a 14% interest only note, and 3) a three point origination fee.
In addition to paying the $5,460 origination fee, Nikki will also fund $98,000 of the purchase with her own money, or 35% of the purchase price. Once the deal closes, she will pay the lender $2,123 in monthly interest payments, or 14% multiplied times $182,000 divided by 12 months in a year. If Nikki sells the project for $364,000 after 12 months, she would make a total profit of $53,060 after deducting the original principle of $182,000, the funds paid at the close of $98,000, the origination points of $5,460, and the aggregate interest payments of $25,480. This profit doesn't include remodeling costs.
Loan Example 2
Simone is a an investor in St Paul, MN. She locates a run-down property for a rehab project and obtains a bridge loan from Number One Funding Corporation with the following features:
$320,000 purchase price
65% loan-to-value (LTV)
6 month term
12% rate of interest
4% origination fee
Assuming a $400,000 sales price after the 6 month term, the numbers for the deal would look like the following:
$400,000 sales price
- $208,000 principle (65% LTV)
- $112,000 down payment (35% on 65% LTV)
- $8,320 origination points (4% of the $208,000 principle amount)
- $12,480 interest payments (6 months x 12% interest)
= $59,200 total profit (does not include taxes or renovation costs)
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 ...
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 $7.1 Billion life-to-date in total loan volume to real estate investors. ...
T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
T&M Commercial Funding is an Auburn, ME based private lender who provides loans in 47 states across the US. They provide lending solutions for a variety of situations and needs, including bridge loans and commercial hard money loans. ...
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 ...
Temple View Capital
7500 Old Georgetown Road, Suite 1375
Bethesda, MD 20814
Temple View Capital is private lender headquartered in Bethesda, MD. They provide loans in 20 states throughout the US. They provide short term fix and flip loans, cash out loans, private commercial loans, loans for rental properties, ...
Sunset Equity Funding
3435 Wilshire #1840
Los Angeles, CA 90010
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new ...
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 ...
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 ...
Pine Financial Group
10200 W. 44th Ave Suite 220
Wheat Ridge, CO 80033
Headquartered in Wheat Ridge, CO, Pine Financial Group is a private money lender offering loans in Colorado and Minnesota. They offer fix and flip loans, short term loans, and long term rental property loans. Their loan guidelines ...
11 Middle Neck Road Suite 314
Great Neck, NY 11021
Sharestates is a Great Neck, NY based hard money lender. They provide loans in 46 states across the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, fix ...
207 Mockingbird Ln, #402
Johnson City, TN 37604
Based in Johnson City, TN, Riverdale Funding is a hard money lender offering loans in 37 states across the country. They provide lending solutions for a variety of scenarios, including loans for investments properties, commercial hard money loans, fix ...
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
Asset Avenue is private money lender based in Los Angeles, CA. They provide loans in 44 states across the United States. They provide loans for a variety of needs and situations, including short term loans, investment property ...
18851 NE 29th Avenue, Suite 1000
Aventura, FL 33180
ICG10 Capital is private lender headquartered in Aventura, FL. They offer loans in 44 states throughout the United States. They offer loans for many different scenarios, including short term loans, buy and hold loans, short term fix ...
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
1101 W Mineral Ave. #101
Littleton, CO 80120
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and fix-and-flip ...
1010 NE 2nd Ave
Miami Beach, FL 33132
Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States. They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...
445 S. Figueroa Street, Suite 3199
Los Angeles, CA 90071
Source Capital is an asset-based lender headquartered in Los Angeles, CA offering loans in California, Arizona, and Minnesota. They provide loans for a variety of situations and needs, including bridge loans, fix-and-flip loans, hard money refinancing, and ...
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...