South Dakota Investment Property Loans
South Dakota has 4 investment property private money lenders serving the state. The median amount loaned in this state is $469,144. The median rate for hard money loans in South Dakota is 10.6%. The typical loan issued in the state is 57 months in length. The average note includes a 2.9 point origination cost. Lenders typically offer a 75% loan-to-value (LTV) on loans in South Dakota.
Loan Example 1
Frankie wants to acquire an investment property in Rapid City, SD for $210,000 with a private money loan from Fair View Lending Corporation. Since there is a 80% loan to value (LTV) contracted to by the lender and borrower, Frankie will have to put down the remaining 20% with her own money. The loan also lays out a 2 year note with interest-only payments at 13%, and a 5% origination fee. According to this scenario, Frankie will be required to fund $42,000 of her own funds into the deal in addition to the $8,400 origination fee (5% x $168,000 principle loan). She will then be required to pay $1,820 per month in interest.
Loan Example 2
Tom decides to acquire a rental house in Rapid City, SD for $250,000 using a hard money loan from Axis Funding Corporation. The lender loans Tom 85% of the list price of the house (LTV), so he will be required to pay the other 15%. The additional guidelines of the loan are as follows: 1) a 5 year, interest-only note, 2) a 13% rate of interest, and 3) a 2 point origination fee charged at closing. According to the terms of the loan, Tom's payments will be $2,302 monthly. He will also be required to fund $37,500 in cash at the closing along with the $4,250 origination fee. Upon expiration of the loan, he will have to pay the $212,500 principle in a balloon payment.
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
Global Capital Partners Fund
555 Fifth Avenue, Suite 1501
New York, NY 10017
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
A diverse portfolio ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
5300 W Atlantic Ave,, Suite 205
Delray Beach, FL 33448
Gelt Financial since 1989 is a direct private money lender. Focusing Investment and small business mortgages in 42 states. We put a heavy focus on collateral and make storied and time sensitive deals. Our borrowers and mortgage brokers will always ...