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 Grand Forks, North Dakota
There are 13 records for construction private money lenders operating in Grand Forks, ND. Note amounts average around $460,417. The mean interest rate for private loans in Grand Forks is 10.1%. The average length for loans is 26 months. The average loan includes a 3.0 percent origination charge. Lenders offer on average a 77% loan-to-value on deals in Grand Forks.
Loan Example 1
Rhoda decides to purchase a home lot in Grand Forks, ND to construct a duplex in order to resell it. The construction costs will be around $350,000 and the land costs $280,000. Fair View Finance Corporation issues a 70% loan-to-value (LTV) construction loan to Rhoda in order to complete the deal. They also agree to a 8% rate of interest for 12 months plus a five point origination fee. There will be no pre-payment penalties for the note and construction expenses will be paid out in multiple draws. Given this loan scenario, the lender will contribute $441,000 of the plot and construction expenses. The borrower will be required to pay $189,000 down, a $22,050 origination fee, and $2,940 per month in loan payments. At the end of the loan, Rhoda re-sells the house for $940,000. This will earn Rhoda a $252,670 net profit after paying back all expenses of the loan ($441,000 principle, $189,000 cash down, $22,050 origination fee, and $35,280 for 12 months of payment).
Loan Example 2
Barbra is a home builder and wants to purchase a land lot in Grand Forks, ND in order to construct a new home. She obtains a new construction loan from Green Square Finance Corporation with the following terms:
a) A $150,000 purchase price for the vacant plot, b) $200,000 in construction expenses, c) an 60% loan-to-value (LTV), d) a 6 month length, e) a 11% interest rate, and f) a 4% origination fee.
Based on a projected $430,000 re-sell after the 6 months, the numbers for this project will be the following:
$430,000 sales price
- $210,000 note principle (60% LTV)
- $140,000 cash paid at closing (40% on 60% LTV)
- $8,400 origination points (4% of the $210,000 principle amount)
- $11,550 total interest paid (6 months x 11% interest)
= $60,050 total profit
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. ...
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
1345 Avenue Of The Americas, 2nd Floor
New York, NY 10105
(800) 514-7350 Website
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 ...
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75070
(214) 548-5190 Website
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 ...
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 ...
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. ...
Dominion Mortgage Corporation
1990 S. Bundy Drive, Suite 640
Los Angeles, CA 90025
(310) 477-3041 Website
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 ...
Brisco Funding is an asset-based lender in Chappaqua, NY providing funding throughout the US. They offer lending solutions for many different situations and needs, including construction loans, buy and hold loans, short term loans, and short term fix ...
George Smith Partners
10250 Constellation Blvd, Suite 2700
Los Angeles, CA 90067
(310) 557-8336 Website
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 ...
MCG is a hard money lender based in Feasterville Trevose, PA providing loans across the US. They provide hard money loans for commercial properties, refinancing, short term bridge loans, and builder loans. They ...
York Commercial Finance is an Addison, TX based private lender who provides funding all across the United States. They provide new construction loans, private refinancing, commercial loans, and short term loans. Their loan parameters are versatile, including ...