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 Fairhope, Alabama
Fairhope, AL has 22 new construction hard money lenders offering loans within the city. Loan amounts average about $297,188. Rates on loans issued to Fairhope borrowers average 10.9%. 13 months is the mean length for loans offered in the city. The average loan includes a 2.7 point origination charge. The mean loan to value offered for loans in Fairhope is 72%.
Loan Example 1
Marcy decides to acquire a lot in Fairhope, AL and construct a new duplex in order to re-sell it. Marcy expects that the construction costs will be approximately $150,000 and the plot costs $210,000. To fund the transaction, she takes out a construction loan from Famous Funding Company . They agree to issue a loan with a 8% interest rate for 18 months and 5 origination points paid at the closing. Additionally, they agree to fund 50% of the total costs (the loan-to-value or "LTV"). Construction costs will be paid in draws and there will be no pre-payment penalties. By this deal scenario, the lender will fund $180,000 of the land and the construction costs. The borrower will have to pay $180,000 down, a $9,000 origination charge, and $1,200 monthly in loan payments. When the loan expires, Marcy sells the home for $450,000. This will earn Marcy a $59,400 gross profit after paying off all costs of the deal ($180,000 principle, $180,000 cash at closing, $9,000 origination charges, and $21,600 for 18 months of interest payments).
Loan Example 2
Frankie is a home builder in Fairhope, AL. She wants to buy a vacant lot to construct a new single family home. Because she doesn't have the money to pay for the full deal, she takes out a construction private money loan from Allstar Lending Group with the following specifications:
a) A $320,000 sales price for the land lot, b) $150,000 in construction costs, c) an 80% loan to value (LTV), d) a 18 month term, e) a 9% rate of interest, and f) a 2% origination fee.
Frankie plans to list the property at the end of the term for $650,000. If she achieves her goal, the final numbers will be the following:
$650,000 sales price
- $376,000 principle (80% LTV)
- $94,000 down payment (20% on 80% LTV)
- $7,520 origination points (2% of the $376,000 principle amount)
- $50,760 total interest paid (18 months x 9% interest)
-----------------------
= $121,720 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, ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Commonwealth Equity Funding is an asset-based lender in Boston, MA providing loans throughout the US. They provide fix and flip hard money loans, commercial loans, ground up construction loans, and bridge loans. Their loan guidelines are versatile, ...
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