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 Booneville, Mississippi
Booneville, MS has 18 new construction lenders in the city. Loan amounts average around $375,893. Rates for loans average 11.0%. The mean length offered for notes is 20 months. The mean origination fee applied to the loans is 3.0%. Lenders typically offer a 75% loan to value on loans in Booneville.
Loan Example 1
Loretta is a home builder in Booneville, MS. She decides to purchase a land lot and construct a new duplex. The building costs will be about $350,000 and the land will cost $150,000. Friendly Investment Company makes a 85% loan-to-value (LTV) new construction loan to Loretta in order to complete the deal. They also agree to a 8% rate of interest for 6 months plus a 5 point origination fee. Loretta is to receive the building expenses in draws and there will be no pre-payment penalty if she repays the note prior to the expiration. Given this loan scenario, Loretta will be required to pay the following expenses: 1) $75,000 down (based on the 85% LTV), 2) a $21,250 origination fee ($425,000 loan principle x 5%), and 3) $2,833 monthly interest payments. Loretta 's goal is to sell the new home for $600,000. If she succeeds, she will earn a net profit of $61,750 after deducting all expenses ($425,000 principle, $75,000 cash down, $21,250 origination charges and $17,000 for 6 months of interest payments).
Loan Example 2
Dennis is an investor in Booneville, MS. He decides to acquire a land lot to construct a new single family home. In order to fund the deal, he obtains a construction loan from Red City Finance Group with these parameters:
- $240,000 purchase price for the land plot
- $250,000 in construction costs
- 75% loan to value (LTV)
- 12 month length
- 10% rate of interest
- 4% origination charge
If Dennis succeeds in his goal of a $730,000 sale, the final numbers of the project will be the following:
$730,000 sales price
- $367,500 principle (75% LTV)
- $122,500 cash paid at closing (25% on 75% LTV)
- $14,700 origination points (4% of the $367,500 principle)
- $36,750 interest payments (12 months x 10% interest)
= $188,550 gross profit
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property 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
1345 Avenue Of The Americas, 2nd Floor
New York, NY 10105
(800) 514-7350 Website
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 ...
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 ...
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 ...
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. ...
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75070
(214) 548-5190 Website
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 ...
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 ...
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 ...
Dominion Mortgage Corporation
1990 S. Bundy Drive, Suite 640
Los Angeles, CA 90025
(310) 477-3041 Website
Dominion Mortgage Corporation is a Los Angeles, CA based private money lender. They provide loans all throughout the country. They offer short term loans, refinancing, private commercial loans, and new construction loans. They provide rates ...
Aspen Capital Funding
9400 SW Beaverton-Hillsdale Hwy, Suite 131
Beaverton, OR 97005
(503) 295-5800 Website
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 ...
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 ...
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 ...
Capital Funding Corporation
515 South Flower Street, 36th Floor
Los Angeles, CA 90071
(310) 561-1400 Website
Capital Funding Corporation is a Los Angeles, CA based private lender. They offer loans all throughout the United States. They offer ground-up construction loans and commercial loans. They offer loan amounts ranging from $3,000,000 to $50,000,000 ...
North Shore Funding is a Syosset, NY based private lender. They provide loans across the US. They provide lending solutions for many different scenarios, including commercial hard money loans, bridge loans, and hard money construction loans. ...