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 Mansfield, Ohio
Mansfield, OH has 25 new construction hard money lenders serving the city. Note amounts average approximately $301,786. Rates on loans issued to Mansfield borrowers average 10.7%. 13 months is the average length for notes issued in this city. The average hard money loan issued in the city carries a 2.7 point origination cost. 74% is the mean loan-to-value for offered by lenders in Mansfield.
Loan Example 1
Lynne is an investor and decides to purchase a vacant lot in Mansfield, OH to build a new tri-plex. The land is available for $400,000 and Lynne thinks that the construction costs for the project will be approximately $400,000. She applies for a new construction loan from Axis Lending Company with these specifications: 1) a 6 month note at 13% interest, 2) interest only payments made monthly, 3) 4 origination points at the closing by the borrower, and 4) a 60% loan-to-value (LTV) on both the plot purchase and the construction costs. They will not charge a pre-payment penalty and they will contribute the construction costs in four draws. Given this loan scenario, Lynne will need to contribute the following: 1) $320,000 down (based on the 60% LTV), 2) a $19,200 origination charge ($480,000 principle x 4%), and 3) $5,200 monthly payments. At the end of the loan, Lynne sells the house for $1,000,000. This will make Lynne a $149,600 net profit after re-paying all costs of the loan ($480,000 principle amount, $320,000 cash down, $19,200 origination charges, and $31,200 for 6 months of interest payments).
Loan Example 2
Joseph is a home builder who wants to buy a land plot in Mansfield, OH to construct a duplex. To pay for the project, he takes out a new construction loan from Green Square Funding with these parameters:
a) A $170,000 purchase price for the vacant lot, b) $400,000 in construction costs, c) an 55% loan-to-value (LTV), d) a 6 month length, e) a 8% rate of interest, and f) a 3 point origination charge.
Based on a projected $820,000 re-sell after the 6 month term, the numbers for this project will be as follows:
$820,000 sales price
- $313,500 note principle (55% LTV)
- $256,500 cash paid at closing (45% on 55% LTV)
- $9,405 origination points (3% of the $313,500 principle)
- $12,540 total interest paid (6 months x 8% interest)
-----------------------
= $228,055 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, ...
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...
Hilton Financial Corporation is an asset-based lender headquartered in Phoenix, AZ offering loans in Arizona, Utah, Colorado, Ohio, and Hawaii. They offer loans for a variety of situations, including fix-and-flip hard money loans, bridge loans, builder loans, hard ...
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 ...
The Mortgage Banc is a hard money lender headquartered in Columbus, OH providing funding in Ohio. They provide lending solutions for many different situations and needs, including investment property loans, builder loans, and fix and flip loans. ...
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 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 ...
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 ...
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 ...
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 ...
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 ...
LYNK Capital is a Jacksonville, FL based private money lender who offers loans in 12 states throughout the country. They provide commercial loans, construction loans, and fix-and-flip loans, multi-unit (5+) okay. Their loan guidelines are flexible, including rates starting at 7.9% ...
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. ...
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 ...
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 ...
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 ...
Silver Arch Capital is a Hackensack, NJ based hard money lender. They provide loans across the US. They provide new construction loans, refinancing, and hard money loans for commercial properties. They offer terms between 1 ...
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 ...
Based in Charlotte, NC, Mountain Real Estate Capital is an asset-based lender providing loans across the country. They provide ground up construction loans and hard money loans for commercial properties. They provide loans on ...
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, ...
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