New Construction Loans in Lexington, Nebraska
Lexington, NE has 21 new construction lenders offering loans within the city. In this city, the average amount for loans is $337,728. Rates on hard money loans issued to Lexington borrowers average 10.6%. The mean term for loans is 16 months. The average origination fee for the loans is 2.9 percent. Lenders in Lexington average a 74% LTV on their loans.
Loan Example 1
Rebekah decides to purchase a land plot in Lexington, NE and construct a tri-plex to re-sell it for a profit. Rebekah expects that the construction expenses will be approximately $150,000 and the lot is listed for $320,000. Superior Investment Corporation issues a 65% loan to value (LTV) construction loan to Rebekah so she can fund the deal. They agree to a 8% interest rate for 6 months plus a five point origination fee. There will be no pre-payment penalties on the note and construction expenses will be paid over several draws. The borrower will be required to pay $2,037 monthly in note payments in addition to $164,500 down, plus a $15,275 origination fee at the closing. Rebekah 's intent is to sell the house for $680,000. If she succeeds, she will earn a gross profit of $182,505 after deducting all expenses ($305,500 principle amount, $164,500 cash down, $15,275 origination charges and $12,220 for 6 months of interest payments).
Loan Example 2
Adrienne is a home builder in Lexington, NE. She decides to acquire a lot and construct a new house. She applies for a construction loan from Johnson Finance Company with the following specifications:
- $400,000 purchase price for the land
- $400,000 in construction expenses
- 65% loan to value (LTV)
- 12 month length
- 11% rate of interest
- 2% origination fee
Assuming a $1,160,000 resell after the 12 months, the numbers for this deal will be as follows:
$1,160,000 sales price
- $520,000 loan principle (65% LTV)
- $280,000 cash paid at closing (35% on 65% LTV)
- $10,400 origination fee (2% of the $520,000 principle amount)
- $57,200 interest payments (12 months x 11% interest)
= $292,400 total 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, ...
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 ...
Global Capital Partners
1345 Avenue Of The Americas, 2nd Floor
New York, NY 10105
(800) 514-7350 Website
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 ...
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 ...
Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
(952) 345-3445 Website
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 ...
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 ...
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 ...
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. ...
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 ...
Commonwealth Equity Funding
Commonwealth Equity Funding is an asset-based lender in Boston, MA providing loans throughout the US. They provide fix and flip hard money loans, commercial loans, ground up construction loans, and bridge loans. Their loan guidelines are versatile, ...
Custom Mortgage is private lender headquartered in Encino, CA. They offer funding throughout the US. They offer hard money loans for commercial properties, loans for investments properties, fix-and-flip loans, cash out hard money loans, bridge loans, ...