Minnesota Bridge Loans
A total of 12 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)
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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
(800) 819-4199 Website
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...