Iowa New Construction Loans
We found 7 records for construction hard money lenders in Iowa. The median amount loaned in this state is $465,555. The median rate for loans in Iowa is 10.7%. 18 months is the median length for loans made in this state. The mean origination percentage added to loans is 3.6%. The mean loan to value offered for loans in Iowa is 75%.
Loan Example 1
Adrian is an investor in Fort Dodge, IA. He wants to acquire a vacant lot and build a new house. In addition to the $310,000 cost of the land, Adrian approximates he will need about $200,000 in building costs to build the home. In order to pay for the project, he takes a new construction loan from J & T Finance Corporation . They contract to issue a loan with a 8% interest rate for 12 months and 5 origination points paid at the closing. Additionally, they agree to contribute 55% of the cumulative costs (the loan-to-value or "LTV"). There are no pre-payment penalties for the loan and building costs will be paid out over multiple draws. The borrower will need to pay $1,870 per month in loan payments on top of $229,500 down, plus a $14,025 origination charge at closing. After deducting all costs, Adrian will make a $63,535 total profit if he succeeds in his goal of a $610,000 sales price.
Loan Example 2
Sean is a home builder and he wants to buy a land lot in Ankeny, IA and build a new tri-plex. To pay for the deal, he takes a new construction loan from Ocean View Investment Group with the following specifications:
After the construction is complete, if Sean lists the property for $1,060,000, the final numbers will be the following:
$1,060,000 sales price
- $497,000 loan principle (70% LTV)
- $213,000 down payment (30% on 70% LTV)
- $24,850 origination points (5% of the $497,000 principle amount)
- $82,005 total interest paid (18 months x 11% interest)
= $243,145 net profit
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. ...
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 ...
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 ...
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 ...
Normandy is a Rochester, NY based private money lender. They provide funding in 39 states throughout the country. They provide ground-up construction loans, long term rental property loans, cash out hard money loans, fix and flip hard money ...
Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
(952) 345-3445 Website
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 ...
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. ...