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 Minot, North Dakota
Minot, ND has 13 private money lenders serving the city. Loan amounts average approximately $444,250. Interest rates for hard money loans average around 10.4%. 29 months is the median length for loans made in this city. The mean origination fee for loans is 3.5 points. Lenders in Minot average a 73% loan-to-value (LTV) on their loans.
Loan Example 1
Abigail finds a duplex in Minot, ND to remodel and resell. Since she doesn't have enough cash available to acquire the $210,000 house outright, she takes out a bridge loan from East Shore Investment Corporation . The lender agrees to issue a note with a 70% loan-to-value (LTV) so they will loan $147,000 on the house. The rate on the note is 13% for a term of 6 months and the company requires a five point origination fee at the closing. The interest is to be paid on a monthly basis and the principle amount will be paid back after the sale of the property.
In addition to paying the $7,350 origination fee, Abigail will also fund $63,000 of the purchase with her own money, or 30% of the purchase price. The monthly interest-only payments will then total $1,593 to the lender. Assuming Abigail sells the remodeled project for $315,000 at the end of the 6 month term, her gross profit (not accounting for renovation costs) would be $88,095. This is computed by taking the sales price ($315,000) and subtracting the principle ($147,000), the origination cost ($7,350), the funds she contributed to closing ($63,000), and the total interest expenses ($9,555).
Loan Example 2
Chris is a real estate investor in Minot, ND. He finds an older townhouse for a remodeling project and takes a bridge loan from Superior Finance Corporation with the following features:
$180,000 purchase price
60% loan to value (LTV)
6 month term
14% rate of interest
1% origination fee
Based on a $216,000 sales price at the end of the 6 month term, the numbers for this deal would look like the following:
$216,000 sales price
- $108,000 loan principle (60% LTV)
- $72,000 cash paid at closing (40% on 60% LTV)
- $1,080 origination points (1% of the $108,000 principle)
- $7,560 interest payments (6 months x 14% interest)
= $27,360 gross 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 ...
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 ...
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 ...
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 ...
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. ...
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. ...
Abel Commercial Funding is a Rockville, MD based private lender offering funding throughout the US. They provide commercial hard money loans, short term bridge loans, and fix and flip hard money loans. Their lending parameters are versatile, ...
Commercial Funding Solutions
666 Washington Road, Suite 200
Pittsburgh, PA 15228
(888) 700-7817 Website
Commercial Funding Solutions is a Pittsburgh, PA based private money lender who provides funding all throughout the US. They offer commercial hard money loans and bridge loans. Their loan parameters are versatile, including rates ranging between 9% ...
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 ...
Pangea Mortgage Capital is private money lender based in Chicago, IL. They provide funding throughout the country. They provide lending solutions for a variety of situations, including fix and flip loans, loans for investments properties, and ...
Accelerate Commercial Capital
2000 Mallory Ln, Suite 130-140
Franklin, TN 37067
(866) 528-1005 Website
Accelerate Commercial Capital is hard money lender based in Franklin, TN. They offer funding across the US. They offer loans for many different situations and needs, including hard money bridge loans and hard money loans for commercial ...