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 Alma, Arkansas
A total of 18 records for new construction lenders were found in Alma, AR. The mean note issued is approximately $382,693. The mean interest rate for loans in Alma is 11.1%. The mean note issued in this city is for 24 months. The average origination for loans is 2.8 points. Lenders in Alma average a 75% loan to value on their loans.
Loan Example 1
Ronnie is a real estate investor who wants to acquire a lot in Alma, AR in order to build a new duplex. On top of the $320,000 cost of the lot, Ronnie expects he will need about $300,000 in construction expenses to complete the house. Dynamic Lending Corporation issues a 75% loan-to-value (LTV) new construction loan to Ronnie in order to pay for the project. They agree to a 12% interest rate for 6 months in addition to a 4 point origination fee. Ronnie will collect the construction expenses in draws and there will be no pre-payment penalty if he re-pays the note before it expires. According to this loan scenario, the lender will fund $465,000 of the plot and the construction expenses. The borrower will have to pay $155,000 down, a $18,600 origination charge, and $4,650 monthly in note payments. If Ronnie then sells the project for $830,000 he will pocket a gross profit of $163,500 after paying pack the principle amount and subtracting the origination fee and cumulative interest payments.
Loan Example 2
Adam is a builder who decides to buy a vacant lot in Alma, AR to build a duplex. He takes a construction loan from Big Money Investment Company with these stipulations:
- $210,000 sales price for the land plot
- $250,000 in building expenses
- 70% loan-to-value (LTV)
- 12 month term
- 13% interest rate
- 5% origination fee
If his achieves a $550,000 re-sell after the 12 month term, the numbers for this project will be the following:
$550,000 sales price
- $322,000 note principle (70% LTV)
- $138,000 cash paid at closing (30% on 70% LTV)
- $16,100 origination points (5% of the $322,000 principle)
- $41,860 total interest paid (12 months x 13% interest)
-----------------------
= $32,040 net profit
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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 ...
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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 ...
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Flip Funding is an asset-based lender in Sacramento, CA providing funding across the US. They provide investment property loans, cash out hard money loans, hard money loans for commercial properties, new construction loans, hard money bridge loans, and ...
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Based in Charlotte, NC, Mountain Real Estate Capital is an asset-based lender providing loans across the country. They provide ground up construction loans and hard money loans for commercial properties. They provide loans on ...
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