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 Kirksville, Missouri
Kirksville, MO has 21 new construction lenders serving the city. In this city, the mean loan amount is $304,445. Interest rates on hard money loans issued to Kirksville investors average about 10.7%. The typical note issued in the city is 12 months in length. The mean origination fee for loans is 2.8 points. Lenders offer on average a 71% loan to value on deals in Kirksville.
Loan Example 1
Jack decides to purchase a land lot in Kirksville, MO to construct a home and sell it. In addition to the $230,000 cost of the lot, Jack thinks he will need about $250,000 in construction costs to complete the house. To pay for the transaction, he applies for a construction loan from Red Oak Investment Group . They agree to provide a note with a 12% rate of interest for 12 months and 2 origination points paid at closing. They also agree to contribute 70% of the cumulative costs (the loan-to-value or "LTV"). There are no pre-payment penalties for the deal and construction costs will be paid out in four draws. Given this deal scenario, the lender will fund $336,000 of the plot and construction costs. The borrower will be required to pay $144,000 down, a $6,720 origination fee, and $3,360 monthly in interest payments. Jack 's goal is to sell the project for $600,000. If he achieves this, he will make a total profit of $72,960 after deducting all expenses ($336,000 principle, $144,000 cash down, $6,720 origination charges and $40,320 for 12 months of payments).
Loan Example 2
Peter is a real estate investor and he decides to build a duplex on a land plot in Kirksville, MO. To fund the transaction, he takes a construction loan from Dynamic Investment Group with these parameters:
a) A $240,000 purchase price for the vacant lot, b) $350,000 in construction expenses, c) an 70% loan-to-value (LTV), d) a 12 month term, e) a 14% rate of interest, and f) a 5 point origination charge.
After the construction is complete, if Peter lists the property for $850,000, the final numbers would be as follows:
$850,000 sales price
- $413,000 principle (70% LTV)
- $177,000 cash paid at closing (30% on 70% LTV)
- $20,650 origination points (5% of the $413,000 principle)
- $57,820 interest payments (12 months x 14% interest)
-----------------------
= $181,530 gross profit
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 ...
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 ...
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 ...
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. ...
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 ...
Based in Greenwood Village, CO, Merchants Mortgage & Trust Corporation is a private lender providing loans in 9 states throughout the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial ...
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 ...
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and fix-and-flip ...
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 ...
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 ...
Based in Water Mill, NY, Hamptons Financial is a hard money lender offering funding throughout the United States. They offer short term fix and flip loans, private commercial loans, new construction loans, hard money refinancing, bridge loans, 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 ...
Aspen Capital Funding is a Beaverton, OR based hard money lender offering funding all across the country. They provide hard money bridge loans, commercial loans, and hard money construction loans. They offer loan amounts ranging from ...
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 ...
Based in Ponte Vedra Beach, FL, SNAP.BUILD is a private lender offering funding all across the United States. They offer lending solutions for many different situations and needs, including buy and hold loans, ground-up construction loans, and short ...
North Shore Funding is a Syosset, NY based private lender. They provide loans across the US. They provide lending solutions for many different scenarios, including commercial hard money loans, bridge loans, and hard money construction loans. ...
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