Investment Property Loans in Spearfish, South Dakota
We found 10 records for investment property private money lenders operating in Spearfish, SD. Note amounts average approximately $612,857. Rates for loans average 10.7%. The typical loan made in the city is 27 months in length. The mean origination fee charged for the loans is 2.8%. Lenders in Spearfish average a 72% LTV on their deals.
Loan Example 1
Phillip decides to buy a rental house in Spearfish, SD which costs $240,000. Since he doesn't have enough cash for the transaction and can't secure a traditional bank loan, he takes out a hard money loan from J & T Investment Company . Phillip and J & T Investment Company contract to a 85% loan-to-value (LTV) so they will loan 85% of the purchase price and Phillip will have to bring the other 15%. The loan also lays out a 5 year term with interest only payments at 8%, and an origination fee of 2 points. Given this scenario, Phillip will have to make the following payments: 1) $36,000 down payment when the deal closes (due to the 85% LTV), 2) $4,080 in origination fees (2% x $204,000 principle), and 3) $1,360 per month in interest payments.
Loan Example 2
Marcus is a real estate investor in Spearfish, SD. He discovers a rental house he wants to acquire for $360,000 but he does not have enough cash so he takes out a private money loan from River View Finance Corporation . The lender agrees to loan Marcus 70% of the value of the property (LTV), so he will be required to pay the remaining 30%. In addition, they stipulate a 1 year, interest only loan at a 11% rate of interest, with a 1% origination fee paid when the deal closes. Based on the parameters of the deal, Marcus 's interest payments will be $2,310 monthly. He will also be required to contribute $108,000 in cash to the close along with the $2,520 origination fee. When the note expires, he will be responsible for repaying the $252,000 principle in a balloon payment.
Colony American Finance
515 South Flower Street, 44th Floor
Los Angeles, CA 90071
(844) 223-2231 Website
Colony American Finance is a private money lender in Los Angeles, CA providing funding all across the country. They provide loans for a variety of needs and situations, including loans for rental properties and refinancing. Their lending parameters ...
Private Mortgage Financing Partners
32416 Autumn Forest Ct.
Magnolia, TX 77354
(936) 588-8501 Website
Private Mortgage Financing Partners is a private lender in Magnolia, TX providing loans all throughout the United States. They provide investment property loans, fix and flip hard money loans, and commercial hard money loans. Their lending parameters ...
Miner Capital Funding is private money lender based in Belleville, IL. They offer funding all across the US. They offer ground up construction loans, hard money refinancing, long term rental property loans, private commercial loans, short term ...
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 ...
Headquartered in Northbrook, IL, Barnett Capital LTD is a hard money lender offering loans throughout the US. They offer loans for a variety of scenarios, including commercial loans, hard money bridge loans, short term fix and flip loans, ...
Headquartered in Roselle, IL, Rock Hard Financial is a private money lender providing funding across the United States. They provide rental property loans, hard money construction loans, and fix and flip hard money loans. Their loan guidelines ...