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 Andover, Minnesota
A total of 22 search results for new construction hard money lenders were found in Andover, MN. The median note amount is $330,556. Interest rates on private loans made to Andover investors average 10.5%. The mean loan made in the city has a term of 17 months. The mean note includes a 3.0 point origination fee. 72% is the mean loan-to-value (LTV) offered for for loans in Andover.
Loan Example 1
Claude is an investor in Andover, MN. He decides to acquire a home lot to construct a new single family home. The building costs will be approximately $150,000 and the plot will cost $260,000. East Shore Funding Company issues a 55% loan-to-value (LTV) construction loan to Claude in order to pay for the deal. They agree to a 14% interest rate for 6 months in addition to a three point origination fee. Building fees are to be paid out in draws and there will be no pre-payment penalties. According to this loan scenario, the lender will contribute $225,500 of the lot and the building costs. The borrower will need to pay $184,500 down, a $6,765 origination charge, and $2,631 per month in loan payments. If Claude sells the property for $570,000 he will earn a total profit of $137,450 after paying pack the loan principle and deducting the origination points and cumulative interest.
Loan Example 2
Iris is a real estate investor and decides to purchase a vacant lot in Andover, MN to construct a tri-plex. In order to fund the deal, she takes a new construction loan from Rolling Brook Lending Corporation with the following stipulations:
- $370,000 sales price for the plot
- $200,000 in construction expenses
- 50% loan to value (LTV)
- 18 month term
- 13% rate of interest
- 2% origination fee
After the construction is finished, if Iris sells the property for $820,000, the final numbers will be the following:
$820,000 sales price
- $285,000 principle on note (50% LTV)
- $285,000 cash paid at closing (50% on 50% LTV)
- $5,700 origination points (2% of the $285,000 principle)
- $55,575 total interest paid (18 months x 13% interest)
-----------------------
= $188,725 gross profit
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
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 ...
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 ...
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 Plymouth, MN, Hard Money LLC is a private lender offering loans in Minneapolis and St Paul. They offer lending solutions for many different situations, including commercial hard money loans, short term fix and flip loans, and ...
Headquartered in Wayzata, MN, Renovo Capital is a hard money lender providing funding in Minneapolis, St Paul, Duluth, St Cloud, and Rochester. They offer fix-and-flip hard money loans, hard money refinancing, and ground up construction loans. ...
Capital Lending Group is an asset-based lender in Minneapolis, MN offering loans throughout Minneapolis and St Paul. They offer loans for many different situations, including fix-and-flip hard money loans and new construction loans. Their loan guidelines are versatile, ...
CCM Finance is a small team of real estate investors with over 300 properties and many years of experience as Carpathian Capital Management. They specialize in private real estate loans for fix and flip projects as well as new ...
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 ...
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and fix-and-flip ...
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 ...
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. ...
Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States. They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...
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 ...
Brisco Funding is an asset-based lender in Chappaqua, NY providing funding throughout the US. They offer lending solutions for many different situations and needs, including construction loans, buy and hold loans, short term loans, and short term fix ...
Rodeo Capital Inc is private lender headquartered in Los Angeles, CA. They provide loans throughout the US. They offer lending solutions for many different situations, including refinancing, short term bridge loans, hard money construction loans, fix and ...
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. ...
Aspen Capital Funding is a Beaverton, OR based hard money lender offering funding all across the country. They provide hard money bridge loans, commercial loans, and hard money construction loans. They offer loan amounts ranging from ...
Silver Arch Capital is a Hackensack, NJ based hard money lender. They provide loans across the US. They provide new construction loans, refinancing, and hard money loans for commercial properties. They offer terms between 1 ...
Commonwealth Equity Funding is an asset-based lender in Boston, MA providing loans throughout the US. They provide fix and flip hard money loans, commercial loans, ground up construction loans, and bridge loans. Their loan guidelines are versatile, ...
Epic Capital Solutions is a Reno, NV based private money lender. They provide loans across the country. They offer short term fix and flip loans, commercial loans, hard money bridge loans, cash out loans, and builder loans. ...
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