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 Spearfish, South Dakota
There are 13 results for hard money bridge lenders offering loans in Spearfish, SD. The average note amount in this city is $368,750. The average rate for private loans in Spearfish is 10.7%. The median length offered for notes is 28 months. The mean note includes a 2.7 point origination fee. The median LTV offered for loans in Spearfish is 72%.
Loan Example 1
Hugh takes a hard money bridge loan from Evergreen Investment Group in order to remodel a townhouse to flip in Spearfish, SD. The sales price of the property is $180,000. The lender agrees to write a note with a 55% loan-to-value (LTV) so they are willing to extend $99,000 on the house. The rate on the note is 14% for a length of 18 months and the lender requires a three point origination fee at the closing. The interest is to be paid monthly and the principle amount will be returned after the property sells.
On top of the $2,970 origination fee, Hugh will also fund $81,000 of the purchase with his own funds, or 45% of the purchase price. Once the deal closes, he will have to pay the lender $1,155 in monthly interest fees, or 14% times $99,000 divided by 12 months in a year. If he sells the renovated project for $261,000 at the end of the 18 month term, his gross profit (not including remodeling expenses) would be $57,240. This is calculated by taking the purchase price ($261,000) and subtracting the principle ($99,000), the origination cost ($2,970), the money he brought to closing ($81,000), and the total interest payments ($20,790).
Loan Example 2
Jeffrey is a real estate investor in Spearfish, SD. He purchases an older property for a rehab project and takes a private money bridge loan from Ocean View Finance with the following terms:
a) A $360,000 purchase price, b) a 75% loan to value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 5% origination fee.
Jeffrey intends to list the project at the end of the term for $468,000. If he succeeds, the outcome will be the following:
$468,000 sales price
- $270,000 principle on note (75% LTV)
- $90,000 down payment (25% on 75% LTV)
- $13,500 origination points (5% of the $270,000 principle)
- $32,400 interest payments (12 months x 12% interest)
= $62,100 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 ...
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 ...
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 ...
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 ...
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. ...
1920 Main Street, Suite 850
Irvine, CA 92614
Corevest is an Irvine, CA based private lender. They provide funding all across the United States. They provide loans for investments properties, refinancing, bridge loans, and fix and flip hard money loans. Their loan parameters are ...
The Madison Group
520C North Main Street, #201
Heber City, UT 84032
The Madison Group is a Heber City, UT based hard money lender. They provide loans throughout the United States. They provide lending solutions for many different situations, including commercial loans and bridge loans. They provide loan ...
Commercial Business Lenders
2820 Lawndale Suite 207
Greensboro, NC 27408
Commercial Business Lenders is a Greensboro, NC based hard money lender. They provide loans all across the US. They offer bridge loans and hard money loans for commercial properties. Their lending parameters are flexible, including rates ...
Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...