Anchor Loans is a Calabasas, CA based private lender. They provide loans in 34 states throughout the US. They offer new construction loans, fix-and-flip hard money loans, loans for rental properties, refinancing, hard money bridge loans, and ...
New Construction Loans in Brentwood, New York
A total of 37 search results for new construction lenders were found in Brentwood, NY. The average amount loaned is $298,611. The average rate for loans in Brentwood is 12.4%. 31 months is the average term for loans made in the city. The average origination fee for the loans is 3.2 percent. Lenders in Brentwood average a 69% loan-to-value on their loans.
Loan Example 1
Kelli decides to buy a lot in Brentwood, NY to build a duplex in order to re-sell it for a profit. In addition to the $200,000 cost of the lot, Kelli estimates she will need around $250,000 in construction expenses to build the home. She applies for a construction loan from Blue Sky Finance Company with the following stipulations: 1) a 12 month note at 14% interest, 2) interest-only payments made each month, 3) 3 origination points at the closing by the borrower, and 4) a 85% loan to value (LTV) on the lot purchase and the construction expenses. Construction fees are to be paid in draws and there are no pre-payment penalties assessed. The borrower will have to pay $4,463 per month in loan payments in addition to $67,500 down, plus a $11,475 origination charge at the closing. If Kelli then sells the project for $580,000 she will pocket a total profit of $64,975 after repaying the principle amount and deducting the origination points and cumulative interest payments.
Loan Example 2
Kurt is a real estate investor in Brentwood, NY. He decides to acquire a land lot and construct a new single family home. He takes a new construction loan from Oceanside Lending Company with these stipulations:
- $150,000 purchase price for the plot
- $150,000 in building expenses
- 65% loan to value (LTV)
- 6 month length
- 9% interest rate
- 2% origination charge
Based on a projected $430,000 resell after the 6 months, the numbers for this project would be as follows:
$430,000 sales price
- $195,000 note principle (65% LTV)
- $105,000 down payment (35% on 65% LTV)
- $3,900 origination fee (2% of the $195,000 principle)
- $8,775 interest payments (6 months x 9% interest)
-----------------------
= $117,325 total profit
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Pepe Berard Capital is hard money lender based in Rye Brook, NY. They provide loans in 12 states across the US. They provide private commercial loans, new construction loans, bridge loans, fix and flip hard money loans, ...
New Wave Loans is an asset-based lender based in Aventura, FL providing funding throughout New York, Arizona, Illinois, and Florida. They provide lending solutions for a variety of situations, including buy and hold loans, commercial loans, ground up ...
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Layla Capital is a hard money lender headquartered in New York, NY providing loans in 10 states across the country. They provide lending solutions for many different scenarios, including short term fix and flip loans, construction loans, hard money ...
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Oak Leaf Financial is a Moorestown, NJ based private money lender. They provide funding in New York, New Jersey, Pennsylvania, Connecticut, Delaware, Maryland, and Virginia. They offer bridge loans, ground up construction loans, private refinancing, buy and ...
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 ...
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 ...
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 ...
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. ...
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 ...
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