Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $6 Billion life-to-date in total loan volume to real estate ...
New Construction Loans in Albany, Kentucky
There are 20 new construction lenders serving Albany, KY. The average loan amount in this city is $748,269. Rates for private loans average about 11.3%. 17 months is the average term for notes issued in the city. The mean origination for the loans is 3.2 percent. Lenders in Albany average a 74% loan-to-value (LTV) on their loans.
Loan Example 1
Brett wants to purchase a vacant lot in Albany, KY to build a tri-plex to resell it. The construction costs will be around $400,000 and the lot costs $230,000. He takes out a construction loan from Top Dog Funding Group with these stipulations: 1) a 18 month note at 8% interest, 2) interest only payments made each month, 3) 4 origination points paid at the closing by the borrower, and 4) a 80% loan to value (LTV) on the lot purchase and the construction costs. Construction costs are to be paid in multiple draws and there will be no pre-payment penalties charged. Given this deal scenario, Brett will be required to pay the following: 1) $126,000 down (based on the 80% LTV), 2) a $20,160 origination fee ($504,000 principle x 4%), and 3) $3,360 monthly interest payments. After subtracting all costs, Brett will make a $99,360 gross profit if he succeeds in his goal of a $810,000 sales price.
Loan Example 2
Dwight is a home builder and wants to build a duplex on a land plot in Albany, KY. To fund the deal, he obtains a new construction loan from Investors Investment Group with the following specifications:
- $330,000 sales price for the vacant lot
- $400,000 in building costs
- 80% loan to value (LTV)
- 18 month term
- 9% interest rate
- 5% origination charge
Dwight wants to sell the project at the end of the term for $1,020,000. If he achieves his goal, the deal numbers will be as follows:
$1,020,000 sales price
- $584,000 loan principle (80% LTV)
- $146,000 down payment (20% on 80% LTV)
- $29,200 origination fee (5% of the $584,000 principle)
- $78,840 interest payments (18 months x 9% interest)
-----------------------
= $181,960 net profit
Direct Lending Partners originates short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate in the states of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, MO, NC, NE, ...
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States. They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...
Global Capital Partners is a New York, NY based private lender. They provide funding across the US. They offer hard money bridge loans, hard money construction loans, refinancing, fix-and-flip loans, hard money loans for commercial properties, and ...
Headquartered in Long Beach, NY, NLDS Corp is a private lender providing funding in 32 states throughout the US. They offer lending solutions for a variety of scenarios, including hard money bridge loans, fix-and-flip hard money loans, investment property ...
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using ...
Investor Rehab Funding is hard money lender headquartered in Atlanta, GA. They provide loans in 40 states throughout the US. They offer fix-and-flip hard money loans, private refinancing, investment property loans, and new construction loans. ...
Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan ...
Lima One Capital is a hard money lender based in Greenville, SC providing loans in 40 states across the US. They offer loans for many different scenarios, including fix-and-flip hard money loans, construction loans, refinancing, and investment property ...
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new ...
Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US. They offer lending solutions for a variety of situations and needs, including fix and flip hard ...
Sharestates is a Great Neck, NY based hard money lender. They provide loans in 46 states across the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, fix ...
Fund That Flip is private lender headquartered in New York, NY. They offer funding across the country. They offer fix-and-flip hard money loans, ground-up construction loans, and long term rental property loans. Their loan guidelines ...
George Smith Partners is a Los Angeles, CA based hard money lender. They provide loans all throughout the US. They provide loans for a variety of situations and needs, including hard money loans for commercial properties, short term ...
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 ...
Meridian Capital Group is a New York, NY based hard money lender who offers funding all across the US. They offer new construction loans, hard money refinancing, commercial loans, and short term bridge loans. ...
Based in Water Mill, NY, Hamptons Financial is a hard money lender offering funding throughout the United States. They offer short term fix and flip loans, private commercial loans, new construction loans, hard money refinancing, bridge loans, and ...
360 CB Capital Funding is a White Plains, NY based hard money lender. They provide funding all across the US. They provide ground up construction loans, short term loans, long term rental property loans, cash out loans, fix ...
Custom Mortgage is private lender headquartered in Encino, CA. They offer funding throughout the US. They offer hard money loans for commercial properties, loans for investments properties, fix-and-flip loans, cash out hard money loans, bridge loans, ...
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