
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
A total of 21 results for construction private money lenders were found in Forrest City, AR. In this city, the average amount loaned is $452,885. Interest rates for private loans average around 11.4%. The typical length for loans is 25 months. The average origination for loans is 3.8 percent. Lenders in Forrest City average a 74% loan to value (LTV) on their deals.
Cory wants to purchase a vacant lot in Forrest City, AR and build a house and resell it. Cory thinks the construction expenses will be approximately $350,000 and the plot will cost $220,000. In order to pay for the project, he takes a new construction loan from Assurance Finance. They contract to make a note with a 10% interest rate for 12 months and 4 origination points to be paid when the deal closes. Additionally, they agree to loan 65% of the cumulative expenses (the loan to value or "LTV"). Building costs are to be paid out in multiple draws and there will be no pre-payment penalties assessed. The borrower will be required to pay $3,088 per month in note payments on top of $199,500 down, plus a $14,820 origination fee at closing. After deducting all expenses, Cory will make a $198,130 gross profit if he achieves his goal of a $820,000 sales price.
Andy decides to purchase a land plot in Forrest City, AR and build a duplex in order to re-sell it. He gets a construction loan from Number One Funding Group with the following specifications:
a) A $370,000 purchase price for the plot, b) $300,000 in construction costs, c) an 65% loan to value (LTV), d) a 6 month length, e) a 12% interest rate, and f) a 5 point origination charge.
After the building project is complete, if Andy sells the property for $970,000, the final numbers will be the following:
$970,000 sales price
- $435,500 principle on note (65% LTV)
- $234,500 down payment (35% on 65% LTV)
- $21,775 origination fee (5% of the $435,500 principle amount)
- $26,130 interest payments (6 months x 12% interest)
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= $252,095 net profit
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
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Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
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