Arkansas New Construction Loans
We found 5 records for new construction lenders serving Arkansas. Loan amounts average approximately $477,532. The mean interest rate for loans in Arkansas is 10.9%. The median loan issued in this state has a term of 18 months. The average origination fee for the loans is 3.6 points. Lenders offer on average a 76% LTV on loans in Arkansas.
Loan Example 1
Clayton is a home builder and he decides to buy a vacant lot in Batesville, AR in order to construct a house. The land is available for $340,000 and Clayton expects that the building costs for the house will be approximately $350,000. He takes a new construction loan from Friendly Investment Corporation with the following terms: 1) a 12 month note at 9% interest, 2) interest-only payments made each month, 3) 5 origination points paid at closing by the borrower, and 4) a 50% loan-to-value (LTV) on both the lot purchase and the building costs. They will not assess a pre-payment penalty and they will fund the building costs in several draws. According to the stipulations of the loan, Clayton will need to pay $345,000 plus $17,250 in origination fees at closing, then will start making $2,588 per month payments. If Clayton sells the house for $1,030,000 he will pocket a gross profit of $291,700 after paying pack the principle amount and subtracting the origination expense and total interest.
Loan Example 2
Zelma is a builder in Benton, AR. She decides to acquire a land plot and construct a new home. Because she doesn't have enough cash to fund the total deal, she takes out a new construction hard money loan from South Side Lending Corporation with the following terms:Our specialized programming offers a holistic approach to the needs of individuals requiring post acute and skilled nursing care, as well as personalized long-term care. In conjunction with our subacute specialization in cardiac, orthopedic and pulmonary care, we take pride in our revolutionary Care Navigation model and URGENT SNF Stabilization Program.
If Zelma succeeds in her goal of a $1,030,000 sale, the final numbers of the project will be the following:
$1,030,000 sales price
- $345,000 note principle (50% LTV)
- $345,000 cash paid at closing (50% on 50% LTV)
- $6,900 origination points (2% of the $345,000 principle)
- $67,275 total interest paid (18 months x 13% interest)
= $265,825 total profit
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 ...
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. ...
Normandy is a Rochester, NY based private money lender. They provide funding in 39 states throughout the country. They provide ground-up construction loans, long term rental property loans, cash out hard money loans, fix and flip hard money ...
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 ...
Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
(952) 345-3445 Website
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 ...