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. ...
New Construction Loans in Huron, South Dakota
We found 11 results for construction private money lenders in Huron, SD. Note amounts average approximately $593,750. Interest rates on loans issued to Huron investors average 11.0%. The median loan made in this city has a length of 22 months. The mean origination fee for the loans is 3.2 points. Lenders in Huron average a 74% LTV on their loans.
Loan Example 1
Gilbert is a home builder in Huron, SD. He decides to acquire a home lot to construct a new single family home. The plot costs $330,000 and Gilbert thinks that the construction costs for the new house will be about $300,000. He obtains a new construction loan from River City Finance with these terms: 1) a 18 month note at 13% interest, 2) interest only payments made each month, 3) 5 origination points at closing by the borrower, and 4) a 65% loan-to-value (LTV) on both the land and the construction costs. They agree not to charge a pre-payment penalty and they will issue the construction costs in four draws. By this deal scenario, the lender will fund $409,500 of the land and the construction costs. The borrower will have to pay $220,500 down, a $20,475 origination fee, and $4,436 per month in loan payments. If Gilbert sells the home for $940,000 he will make a gross profit of $209,673 after returning the loan principle and subtracting the origination fee and total interest payments.
Loan Example 2
Adam is a builder who decides to buy a vacant lot in Huron, SD to build a duplex. He takes a construction loan from Big Money Investment Company with these stipulations:
- $210,000 sales price for the land plot
- $250,000 in building expenses
- 70% loan-to-value (LTV)
- 12 month term
- 13% interest rate
- 5% origination fee
If his achieves a $550,000 re-sell after the 12 month term, the numbers for this project will be the following:
$550,000 sales price
- $322,000 note principle (70% LTV)
- $138,000 cash paid at closing (30% on 70% LTV)
- $16,100 origination points (5% of the $322,000 principle)
- $41,860 total interest paid (12 months x 13% interest)
-----------------------
= $32,040 net profit
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 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 ...
Rodeo Capital Inc is private lender headquartered in Los Angeles, CA. They provide loans throughout the US. They offer lending solutions for many different situations, including refinancing, short term bridge loans, hard money construction loans, fix and ...
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 ...
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. ...
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 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 ...
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, ...
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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