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 Elburn, Illinois
There are 26 new construction lenders operating in Elburn, IL. The median loan amount is $291,072. The median rate for hard money loans in Elburn is 11.0%. The typical note issued in this city has a term of 12 months. The mean loan includes a 2.8 point origination cost. Lenders offer on average a 76% loan to value on hard money loans in Elburn.
Loan Example 1
Lynda is an investor and she wants to build a single family home on a land plot in Elburn, IL. The building costs will be around $200,000 and the plot costs $310,000. Ocean View Funding will contribute to the deal at a 85% loan-to-value (LTV) with a 12%, 12 month construction loan with five origination points to be paid when the transaction closes. Lynda will collect the building expenses in draws and there won't be a pre-payment penalty if she repays the loan before it expires. Given the stipulations of the loan, Lynda will be required to pay $76,500 plus $21,675 in origination costs at closing, then will start making $4,335 per month payments. Lynda 's goal is to sell the new house for $630,000. If she succeeds, she will pocket a gross profit of $46,305 after deducting all costs ($433,500 principle amount, $76,500 cash down, $21,675 origination fee and $52,020 for 12 months of interest payments).
Loan Example 2
Dolly wants to purchase a home lot in Elburn, IL to construct a house in order to resell it. Because she doesn't have the cash to fund the full project, she obtains a construction hard money loan from Sunrise Investments with these stipulations:
a) A $290,000 sales price for the vacant plot, b) $250,000 in building costs, c) an 60% loan-to-value (LTV), d) a 6 month term, e) a 10% interest rate, and f) a 5 point origination fee.
Assuming a $640,000 sales price after the 6 months, the numbers for this project would look like this:
$640,000 sales price
- $324,000 loan principle (60% LTV)
- $216,000 cash paid at closing (40% on 60% LTV)
- $16,200 origination points (5% of the $324,000 principle)
- $16,200 interest payments (6 months x 10% interest)
-----------------------
= $67,600 gross profit
Direct Lending Partners originates short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate in the states of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, MO, NC, NE, ...
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. ...
NSB Financing is a Miami, FL based hard money lender. They offer loans in 10 states throughout the United States. They offer loans for many different situations and needs, including commercial hard money loans, hard money construction 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 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 ...
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 ...
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 ...
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 ...
Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
Straightline Funding is an Atlanta, GA based private lender. They provide loans throughout Alabama, Georgia, Illinois, North Carolina, and South Carolina. They provide bridge loans, loans for investments properties, new construction loans, cash out loans, fix and ...
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. ...
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 ...
Based in Santa Ana, CA, Unlimited Capital Group is a private lender offering loans in 15 states across the country. They offer loans for a variety of situations, including fix-and-flip loans, refinancing, bridge loans, loans for rental properties, commercial ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
BSIP Capital is a Temple, TX based hard money lender. They offer loans throughout the country. They provide lending solutions for a variety of needs and situations, including commercial loans, hard money refinancing, long term rental property loans, ...
Skyline Home Loans is a private money lender headquartered in Peoria, AZ providing loans across the US. They offer lending solutions for many different situations, including short term fix and flip loans, ground-up construction loans, and rental property ...
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