North Dakota Investment Property Loans
North Dakota has 6 investment property hard money lenders issuing loans in the state. Loan amounts average around $428,775. Interest rates on loans made to North Dakota investors average around 10.4%. The mean term offered for notes is 56 months. The average loan offered in the state includes a 3.3 point origination cost. 74% is the typical loan-to-value (LTV) offered for offered by lenders in North Dakota.
Loan Example 1
Deloris decides to purchase an investment property in Grand Forks, ND for $400,000 with a private loan from Victory Funding. Since there is a 75% loan-to-value (LTV) agreed to by the two parties, Deloris will need to pay the remaining 25% with her own money. In addition, they agree to a 3 year, interest only loan at a 9% rate of interest, with 3 origination points charged at the closing. Deloris will have to pay $100,000 of her own money at closing (based on the 75% LTV) along with the $9,000 origination fee (3% x the $300,000 principle), plus she will then start making payments of $2,250 monthly after the loan is closed.
Loan Example 2
Walter decides to acquire an investment property in Grand Forks, ND which costs $160,000. Since he doesn't have enough cash for the acquisition and is not able to secure a bank loan, he gets a private money loan from Famous Investment Group. Walter and Famous Investment Group contract to a 60% loan to value (LTV) so they will fund 60% of the sales price and Walter will have to fund the other 40%. The deal additionally stipulates a 4 year term with interest only payments at 12%, and a 1% origination fee. Given this deal, Walter will will be required to make these payments: 1) $64,000 down when the loan closes (due to the 60% LTV), 2) $960 in origination fees (1% x the $96,000 loan principle), and 3) $960 monthly in interest payments.
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 ...
Global Capital Partners
274 Madison Avenue, Suite 901
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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 ...
Patch of Land
15000 Ventura Blvd Ste 202
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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. ...
1121 E. Mullan Ave
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Rental Home Financing
9465 Counselors Way, Suite 200
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Rental Home Financing is a private money lender headquartered in Indianapolis, IN offering funding in 26 states across the country. They provide lending solutions for a variety of scenarios, including refinancing, fix-and-flip loans, and loans for investments properties. ...
6991 E Camelback Rd
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Next-Financing is based in Scottsdale, Arizona and has a satellite office in Silicon Valley, California. They offer a wide array of financing options for businesses, including fix and flip loans and loans for rental properties. They lend on ...