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 Maple Heights, Ohio
Maple Heights, OH has 24 construction hard money lenders serving the city. The average loan made is about $296,786. Rates on hard money loans issued to Maple Heights borrowers average about 10.8%. The typical length for notes is 13 months. The mean origination fee applied to the loans is 2.7%. The typical loan-to-value for loans in Maple Heights is 73%.
Loan Example 1
Cassie is a home builder who wants to acquire a land plot in Maple Heights, OH in order to build a single family home in the Lee Miles area of the city. Cassie thinks the building costs will be around $200,000 and the land is listed for $210,000. Hometown Lending Corporation issues a 85% loan to value (LTV) construction loan to Cassie in order to fund the transaction. They also agree to a 13% rate of interest for 12 months plus a 5 point origination fee. There will be no pre-payment penalties on the note and building costs will be paid out in multiple draws. By the stipulations of this loan, Cassie will need to pay $61,500 plus $17,425 in origination costs at the closing, then will start making $3,775 per month payments. If Cassie then sells the project for $510,000 she will make a gross profit of $37,270 after returning the loan principle and deducting the origination expense and total interest payments.
Loan Example 2
Winnie is a home builder in Maple Heights, OH. She decides to buy a lot to construct a new tri-plex in the Corlett area of the city. In order to pay for the transaction, she takes out a new construction loan from ABC Funding with these specifications:
- $360,000 purchase price for the vacant plot
- $400,000 in building costs
- 55% loan to value (LTV)
- 18 month term
- 9% interest rate
- 3% origination fee
If Winnie achieves her goal of a $910,000 sale, the final numbers of the project will be as follows:
$910,000 sales price
- $418,000 principle on note (55% LTV)
- $342,000 cash paid at closing (45% on 55% LTV)
- $12,540 origination fee (3% of the $418,000 principle)
- $56,430 total interest paid (18 months x 9% interest)
-----------------------
= $81,030 gross 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 ...
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 ...
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 ...
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 ...
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. ...
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. ...
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% ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Barnett REI Finance is private lender headquartered in Northbrook, IL. They offer funding across the US. They offer long term rental property loans, fix-and-flip loans, and construction loans. Their loan parameters are versatile, including ...
Caroline Lending LLC is a Houston, TX based hard money lender. They provide funding all throughout the US. They provide loans for a variety of needs and situations, including short term fix and flip loans, ground up construction ...
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