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 Huntsville, Alabama
Huntsville, AL has 22 new construction hard money lenders offering loans within the city. Loan amounts average about $296,786. Interest rates for loans average 11.0%. The median term for loans is 13 months. The mean origination fee applied to the loans is 3.0%. 72% is the average loan to value for offered by lenders in Huntsville.
Loan Example 1
Nell decides to acquire a land lot in Huntsville, AL and construct a new tri-plex to re-sell it for a profit. On top of the $150,000 price of the land, Nell expects she will have around $150,000 in construction expenses to complete the home. She takes a new construction loan from West Side Finance Corporation with the following specifications: 1) a 18 month note at 14% interest, 2) interest-only payments made every month, 3) 3 origination points paid at the closing by the borrower, and 4) a 70% loan to value (LTV) on both the lot and the construction expenses. They agree not to enforce a pre-payment penalty and they will fund the construction expenses in multiple draws. Given this deal scenario, the lender will fund $210,000 of the land and the construction expenses. The borrower will need to pay $90,000 down, a $6,300 origination charge, and $2,450 per month in interest payments. When the loan expires, Nell re-sells the house for $450,000. This will make Nell a $99,600 net profit after repaying all expenses of the deal ($210,000 principle amount, $90,000 cash at closing, $6,300 origination charges, and $44,100 for 18 months of interest payments).
Loan Example 2
Michael is a real estate investor and he decides to acquire a lot in Huntsville, AL to construct a house. In order to pay for the project, he takes out a construction loan from Rolling Brook Lending Group with these specifications:
a) A $290,000 purchase price for the lot, b) $200,000 in construction costs, c) an 55% loan to value (LTV), d) a 6 month length, e) a 8% interest rate, and f) a 2% origination charge.
Michael wants to list the project when the note expires for $680,000. If he succeeds, the final numbers will be the following:
$680,000 sales price
- $269,500 principle (55% LTV)
- $220,500 cash paid at closing (45% on 55% LTV)
- $5,390 origination points (2% of the $269,500 principle amount)
- $10,780 total interest paid (6 months x 8% interest)
-----------------------
= $173,830 gross 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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
Based in Charlotte, NC, Finance of America Commercial is a private money lender providing funding all throughout the United States. They offer lending solutions for a variety of situations and needs, including refinancing, hard money bridge loans, fix and ...
Capital Funding Corporation is a Los Angeles, CA based private lender. They offer loans all throughout the United States. They offer ground-up construction loans and commercial loans. They offer loan amounts ranging from $3,000,000 to $50,000,000 ...
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