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There are 34 lenders serving Reedsburg, WI. The average note amount in the city is $295,313. Interest rates for loans average about 9.9%. The median note issued in this city has a length of 20 months. The mean origination for the loans is 2.9 points. Lenders typically offer a 73% LTV on loans in Reedsburg.
Howard finds a duplex in Reedsburg, WI to flip and resell. Since he doesn't have enough cash to purchase the $310,000 house outright, he decides to take out a bridge loan from Perfect Funding. Because the lender sets a 70% loan-to-value, Howard will have to put 30% down so the principle amount of the loan will be $217,000. The deal also consists of these features: 1) a 18 month length, 2) a 14% interest only note, and 3) a one point origination charge.
In addition to paying the $2,170 origination fee, Howard will also fund $93,000 of the purchase with his own cash, or 30% of the purchase price. Perfect Funding will collect $2,532 in monthly interest payments from the Howard. This is computed by taking the full loan value of $217,000, multiplying by the 14% interest rate, and then dividing that number by 12. If Howard sells the property for $372,000 after 18 months, he would make a gross profit of $14,260 after deducting the principle of $217,000, the funds paid at the close of $93,000, the origination points of $2,170, and the total interest payments of $45,570. This profit doesn't account for rehab costs.
Bill locates a duplex in Reedsburg, WI to rehab and resell. Because he does not have enough cash to buy the property outright, he takes a private money bridge loan from K & M Investment Company with the following parameters:
$180,000 sales price
70% loan-to-value (LTV)
12 month term
14% interest rate
1% origination fee
Assuming a $270,000 sales price at the end of the 12 month term, the outcome for this project would look like this:
$270,000 sales price
- $126,000 loan principle (70% LTV)
- $54,000 cash paid at closing (30% on 70% LTV)
- $1,260 origination fee (1% of the $126,000 principle amount)
- $17,640 total interest paid (12 months x 14% interest)
-----------------------
= $71,100 gross profit (doesn't include taxes or rehab costs)
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274 Madison Avenue, Suite 901
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701 W Broad Street, Suite 200
Bethlehem, PA 18018
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1905 Kramer Lane, Suite B700
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259 Minot Ave
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1485 International Parkway, Suite 1031
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7500 Old Georgetown Road, Suite 1375
Bethesda, MD 20814
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3435 Wilshire #1840
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100 Lanidex Plaza
Parsippany, NJ 07054
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8855 Preston Trace Blvd, Suite 200
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3014 N. Hayden Rd Suite 115
Scottsdale, AZ 85251
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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 ...
10575 N. 114th St. Suite 103
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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 ...
2150 Coral Way | Suite 1A
Miami, FL 33145
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20 West Vine Street #575
Lansdale, PA 19446
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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 ...
144 N Western Avenue Buidling D
Neenah, WI 54956
Headquartered in Neenah, WI, Peak Choice Capital is a private lender providing funding in 45 states throughout the US. They offer short term bridge loans, buy and hold loans, cash out loans, fix-and-flip loans, and private commercial loans. ...
5737 Kanan Rd
Agoura Hills, CA 91301
Allied Commercial Funding is private lender headquartered in Agoura Hills, CA. They provide funding in 43 states throughout the US. They provide lending solutions for a variety of situations and needs, including hard money loans for commercial ...
251 W. Broadway St, Suite 206
Waukesha, WI 53186
Bellwether Funding is a private money lender headquartered in Waukesha, WI offering loans in Wisconsin. They offer lending solutions for a variety of needs and situations, including private commercial loans and short term bridge loans. ...
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 ...
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US. They offer lending solutions for a variety of situations and needs, including fix and flip hard ...
35 Trenton Ave
Long Beach, NY 11561
Headquartered in Long Beach, NY, NLDS Corp is a private lender providing funding in 32 states throughout the US. They offer lending solutions for a variety of scenarios, including hard money bridge loans, fix-and-flip hard money loans, investment property ...
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 ...
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan ...
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. ...
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 ...
1101 W Mineral Ave. #101
Littleton, CO 80120
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18851 NE 29th Avenue, Suite 1000
Aventura, FL 33180
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9400 SW Beaverton-Hillsdale Hwy, Suite 131
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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 ...
520C North Main Street, #201
Heber City, UT 84032
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15851 Dallas Pkwy, Suite 600
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4819C Eisenhower Ave
Alexandria, VA 22304
Arch Duke Capital is an Alexandria, VA based hard money lender. They provide funding all across the United States. They offer lending solutions for a variety of scenarios, including short term loans and private commercial loans. Their ...
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