
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
Batesville, AR has 21 construction private money lenders offering loans within the city. The average amount for loans in this city is $378,393. The average interest rate for loans in Batesville is 10.4%. The mean term for notes is 23 months. The mean origination percentage applied to the loans is 2.4%. 75% is the median loan to value for for loans in Batesville.
Meredith is a home builder and wants to construct a duplex on a land lot in Batesville, AR. Along with the $380,000 cost of the lot, Meredith approximates she will have around $250,000 in construction expenses to build the project. She applies for a construction loan from Investors Funding Group with these stipulations: 1) a 18 month note at 8% interest, 2) interest-only payments made each month, 3) 3 origination points at closing by the borrower, and 4) a 70% loan-to-value (LTV) on the lot and the construction expenses. There will be no pre-payment penalties for the note and construction expenses will be paid out in a few draws. The borrower will be required to pay $2,940 per month in note payments in addition to $189,000 down, plus a $13,230 origination charge at closing. At the end of the loan, Meredith sells the house for $810,000. This will earn Meredith a $113,850 gross profit after paying off all expenses of the deal ($441,000 principle amount, $189,000 cash at closing, $13,230 origination fee, and $52,920 for 18 months of interest payments).
Anthony is a home builder and he wants to construct a single family home on a vacant lot in Batesville, AR. He applies for a new construction loan from South Star Finance with the following parameters:
a) A $290,000 sales price for the vacant plot, b) $150,000 in construction costs, c) an 65% loan-to-value (LTV), d) a 18 month term, e) a 11% interest rate, and f) a 2% origination charge.
If Anthony achieves his goal of a $660,000 sale, the final numbers of the project would be as follows:
$660,000 sales price
- $286,000 principle on note (65% LTV)
- $154,000 cash paid at closing (35% on 65% LTV)
- $5,720 origination points (2% of the $286,000 principle)
- $47,190 interest payments (18 months x 11% interest)
-----------------------
= $167,090 total profit
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
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