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 Clarkston, Michigan
A total of 20 records for new construction lenders were found in Clarkston, MI. In this city, the median amount loaned is $297,188. Rates on private loans made to Clarkston investors average about 10.8%. The mean loan issued in the city is 13 months in length. The mean origination percentage added to loans is 2.7%. 73% is the typical loan to value (LTV) offered for for loans in Clarkston.
Loan Example 1
Daryl decides to purchase a home lot in Clarkston, MI to build a new tri-plex and resell it for a profit. Daryl thinks the building expenses will be approximately $150,000 and the plot will cost $280,000. Easy Brook Funding Corporation will contribute to the project at a 65% loan-to-value (LTV) with a 11%, 12 month construction loan with 5 origination points paid when the transaction closes. Building costs are to be paid out in draws and there will be no pre-payment penalties assessed. The borrower will have to pay $2,562 monthly in interest payments in addition to $150,500 down, plus a $13,975 origination charge at closing. Daryl 's plan is to sell the new home for $620,000. If he achieves this, he will make a gross profit of $145,280 after subtracting all expenses ($279,500 principle amount, $150,500 cash down, $13,975 origination fee and $30,745 for 12 months of interest payments).
Loan Example 2
Kim is a home builder in Clarkston, MI. She decides to buy a land plot and build a new house. She takes out a construction loan from Downtown Funding with the following stipulations:
a) A $360,000 purchase price for the land, b) $150,000 in construction costs, c) an 55% loan-to-value (LTV), d) a 18 month term, e) a 10% interest rate, and f) a 2 point origination charge.
After the building project is finished, if Kim sells the property for $610,000, the final numbers would be the following:
$610,000 sales price
- $280,500 note principle (55% LTV)
- $229,500 down payment (45% on 55% LTV)
- $5,610 origination fee (2% of the $280,500 principle amount)
- $42,075 interest payments (18 months x 10% interest)
-----------------------
= $52,315 total profit
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 ...
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 ...
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 ...
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 ...
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 ...
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 Long Beach, NY, NLDS Corp is a private lender providing funding in 32 states throughout the US. They offer lending solutions for a variety of scenarios, including hard money bridge loans, fix-and-flip hard money loans, investment property ...
Empire Financial Services is a Tukwilla, WA based hard money lender who offers funding in 16 states across the country. They offer lending solutions for a variety of situations, including hard money loans for commercial properties, fix and flip ...
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 ...
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 ...
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 ...
Miner Capital Funding is private money lender based in Belleville, IL. They offer funding all across the US. They offer ground up construction loans, hard money refinancing, long term rental property loans, private commercial loans, short term ...
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 ...
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 ...
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 ...
Based in Charlotte, NC, Mountain Real Estate Capital is an asset-based lender providing loans across the country. They provide ground up construction loans and hard money loans for commercial properties. They provide loans on ...
Miramar Financial Group is a private money lender in Del Mar, CA providing funding across the US. They provide short term fix and flip loans, builder loans, and commercial loans. Their loan guidelines are flexible, including ...
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