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 ...
Investment Property Loans in Jamestown, North Dakota
Jamestown, ND has 14 investment property lenders operating in the city. In this city, the average amount loaned is $338,500. Rates for loans average 10.0%. The mean loan issued in the city has a length of 76 months. The mean origination fee for the loans is 2.9 percent. The average loan-to-value (LTV) for loans in Jamestown is 76%.
Loan Example 1
Caroline decides to purchase a rental property in Jamestown, ND which costs $150,000. Since she doesn't have enough cash for the acquisition and cannot get a bank loan, she takes out a hard money loan from Perfect Investments . The lender decides to loan Caroline 70% of the sales price of the investment property (LTV), so she will have to pay the other 30%. According to the terms of the loan, the note will be for 1 years at 9% interest. An origination fee of 2% will be paid at closing and Caroline will then make interest only payments with a balloon payment of the loan principle due when the note expires. According to this scenario, Caroline will make these payments: 1) $45,000 down when the deal closes (due to the 70% LTV), 2) $2,100 in origination points (2% x the $105,000 principle), and 3) $788 per month in interest payments.
Loan Example 2
Dorothea wants to buy an investment property in Jamestown, ND for $250,000 using a private money loan from Deep Lake Funding Group . The lender agrees to loan Dorothea 70% of the sales price of the property (LTV), so she will have to fund the remaining 30%. The other terms of the loan are the following: 1) a 1 year, interest only loan, 2) a 13% interest rate, and 3) a 3 point origination fee paid at the closing. By this scenario, Dorothea will have to put $75,000 of her own funds in the deal along with the $5,250 origination fee (3% x $175,000 principle loan). She will then have to make interest payments of $1,896 per month.
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