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 Fargo, North Dakota
A total of 13 results for construction private money lenders were found in Fargo, ND. In this city, the mean amount loaned is $356,250. The mean rate for loans in Fargo is 10.8%. The typical loan made in this city has a length of 19 months. The average origination fee for loans is 3.8 points. 73% is the average LTV for offered by lenders in Fargo.
Loan Example 1
Ray is a home builder and he decides to buy a land lot in Fargo, ND to construct a single family home. On top of the $220,000 price of the lot, Ray expects he will need around $250,000 in building expenses to complete the house. Fair View Investment Company will contribute to the project at a 65% loan to value (LTV) with a 14%, 12 month new construction loan with two origination points paid at closing. There will be no pre-payment penalties for the deal and building expenses will be paid in a few draws. According to the specifications of this loan, Ray will be required to fund $164,500 plus $6,110 in origination fees at closing, then will begin making $3,564 monthly payments. Ray 's goal is to sell the new home for $650,000. If he achieves this, he will make a net profit of $131,120 after subtracting all costs ($305,500 principle amount, $164,500 cash down, $6,110 origination charges and $42,770 for 12 months of interest payments).
Loan Example 2
Latonya is a home builder in Fargo, ND. She wants to buy a home lot and construct a new duplex. She applies for a construction loan from Red City Finance Group with these specifications:
- $290,000 sales price for the vacant lot
- $300,000 in construction costs
- 80% loan-to-value (LTV)
- 18 month term
- 9% rate of interest
- 5% origination fee
Latonya plans to sell the house when the note expires for $820,000. If she achieves her goal, the final numbers will be as follows:
$820,000 sales price
- $472,000 note principle (80% LTV)
- $118,000 down payment (20% on 80% LTV)
- $23,600 origination fee (5% of the $472,000 principle)
- $63,720 total interest paid (18 months x 9% interest)
-----------------------
= $142,680 total profit
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 ...
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip 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 ...
Fund That Flip is private lender headquartered in New York, NY. They offer funding across the country. They offer fix-and-flip hard money loans, ground-up construction loans, and long term rental property loans. Their loan guidelines ...
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 ...
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 ...
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 ...
George Smith Partners is a Los Angeles, CA based hard money lender. They provide loans all throughout the US. They provide loans for a variety of situations and needs, including hard money loans for commercial properties, short term ...
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 ...
Knighthead Funding is private lender based in Greenwich, CT. They provide loans throughout the country. They provide hard money construction loans, short term loans, hard money loans for commercial properties, private refinancing, fix-and-flip hard money loans, ...
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