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 Minot, North Dakota
Minot, ND has 15 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)
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
Nova Bridge Capital
20 West 64th Street, Lower Level
New York, NY 10023
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
11140 Rockville Pike, Suite 400
Rockville, MD 20852
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, ...
Pangea Mortgage Capital
640 N LaSalle, Suite 638
Chicago, IL 60654
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
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 ...