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A total of 22 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.
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).
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
274 Madison Avenue, Suite 901
New York, NY 10016
A diverse portfolio of lending services, an experienced in-house underwriting staff, and theability to tailor financing options to a client's individual needs have made Global CapitalPartners a household name in New York's commercial lending industry. Global Capital Partnershas long provided ...
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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 $6.6 Billion life-to-date in total loan volume to real estate ...
3435 Wilshire #1840
Los Angeles, CA 90010
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 ...
100 Lanidex Plaza
Parsippany, NJ 07054
Stratton Equities is the Nationwide leading hard money lender. We are passionate about helping small business owners, contractors, and Real Estate investors, swiftly and efficiently finance their investment goals. We customize our hard money loan programs for each unique project ...
201 East McBee Ave, Suite 300
Greenville, SC 29601
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 ...
321 N Central Expressway, Suite 360
McKinney, TX 75071
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 their own ...
508 Whitehorse Mercerville Rd
Hamilton, NJ 08610
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 ...
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
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 ...
20 West Vine Street #575
Lansdale, PA 19446
Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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 ...
1010 NE 2nd Ave
Miami Beach, FL 33132
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 ...
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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 ...
1995 North Park Place SE, Suite 415
Atlanta, GA 30339
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. ...
35 Trenton Ave
Long Beach, NY 11561
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 ...
PO Box 58804
Tukwilla, WA 98138
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 ...
11 Middle Neck Road Suite 314
Great Neck, NY 11021
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 ...
2226 Madero Dr
Belleville, IL 62221
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 ...
1990 S. Bundy Drive, Suite 640
Los Angeles, CA 90025
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 ...
11601 Wilshire Blvd. Suite 2410
Los Angeles, CA 90025
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 ...
670 Montauk Highway
Water Mill, NY 11976
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 ...
13860 Ballantyne Corporate Place, 130
Charlotte, NC 28277
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 ...
2195 San Dieguito Drive Suite 4B
Del Mar, CA 92014
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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