Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
(407) 878-2830 Website
There are 7 private money lenders offering loans in Rapid City, SD. The median amount loaned is $448,750. Interest rates on private loans issued to Rapid City borrowers average 10.2%. 36 months is the median term for loans offered in the city. The mean note includes a 4.1 point origination charge. 70% is the typical LTV for offered by lenders in Rapid City.
Lillie closes on a $240,000 rehab project in Rapid City, SD, using a private money loan from Urban Lending Group . The terms of the loan include a 80% loan to value (LTV), so she must bring 20% of the price as cash to closing, which makes the principle note amount $192,000. The deal also consists of these features: 1) a 12 month length, 2) a 12% interest only note, and 3) a four point origination charge.
Therefore, Lillie will have to contribute a $48,000 down payment plus pay a $7,680 origination fee. she will then pay $1,920 per month to Urban Lending Group . If Lillie achieves her goal of a $360,000 total sales price when the loan expires, she would earn a total profit of $89,280 after repaying the principle on the note and subtracting the cash she brought to closing, the origination fee, and the monthly interest payments.
Oceanside Funding Company makes a private money loan to Essie for a remodeling project in Rapid City, SD. The loan includes the following:
a) A $280,000 purchase price, b) a 50% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 1% origination fee.
If Essie accomplishes her goal of a $420,000 sales price, the numbers of the deal will be as follows:
$420,000 sales price
- $140,000 principle (50% LTV)
- $140,000 down payment (50% on 50% LTV)
- $1,400 origination points (1% of the $140,000 principle)
- $7,700 total interest paid (6 months x 11% interest)
= $130,900 total profit (doesn't include taxes or rehab costs)
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
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. ...
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
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