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 Enterprise, Alabama
Enterprise, AL has 22 new construction lenders in the city. The mean note issued is around $296,786. Rates on private loans made to Enterprise borrowers average about 10.9%. The typical loan issued in the city is 13 months in length. The average origination fee for loans is 2.7 percent. The mean loan-to-value (LTV) offered for loans in Enterprise is 72%.
Loan Example 1
William is an investor who decides to construct a house on a vacant lot in Enterprise, AL. The plot costs $390,000 and William estimates that the building costs for the project will be around $400,000. To pay for the transaction, he takes out a new construction loan from Smith Lending Group . They agree to make a loan with a 11% rate of interest for 12 months and 2 origination points to be paid when the deal closes. Additionally, they agree to fund 50% of the cumulative expenses (the loan to value or "LTV"). Building costs will be paid out in draws and there will be no pre-payment penalties. The borrower will be required to pay $3,621 monthly in loan payments on top of $395,000 down, plus a $7,900 origination fee at the closing. If William sells the house for $1,100,000 he will pocket a total profit of $258,650 after paying pack the principle and subtracting the origination expense and cumulative interest payments.
Loan Example 2
Julia is a builder and she decides to acquire a land plot in Enterprise, AL in order to build a home. To fund the deal, she takes a construction loan from Friendly Finance Group with the following specifications:
- $380,000 purchase price for the lot
- $150,000 in construction expenses
- 80% loan to value (LTV)
- 18 month term
- 10% rate of interest
- 3% origination charge
Julia intends to list the property when the loan expires for $790,000. If she succeeds, the deal numbers will be as follows:
$790,000 sales price
- $424,000 loan principle (80% LTV)
- $106,000 cash paid at closing (20% on 80% LTV)
- $12,720 origination points (3% of the $424,000 principle)
- $63,600 total interest paid (18 months x 10% interest)
-----------------------
= $183,680 net 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 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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
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. ...
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 ...
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 ...
Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...
Barnett REI Finance is private lender headquartered in Northbrook, IL. They offer funding across the US. They offer long term rental property loans, fix-and-flip loans, and construction loans. Their loan parameters are versatile, including ...
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