Mississippi New Construction Loans
We found 7 search results for construction private money lenders in Mississippi. The average note amount is $457,902. The average rate for loans in Mississippi is 10.7%. The typical term for loans is 17 months. The mean origination for loans is 3.5 points. 75% is the mean loan-to-value for offered by lenders in Mississippi.
Loan Example 1
Anita is an investor in Canton, MS. She wants to acquire a home lot and build a new tri-plex. Anita estimates the building expenses will be around $150,000 and the lot will cost $280,000. To pay for the deal, she takes a new construction loan from Trust Lending Company . They agree to make a note with a 14% interest rate for 12 months and 2 origination points to be paid when the deal closes. Additionally, they agree to fund 75% of the cumulative expenses (the loan to value or "LTV"). Construction costs will be paid in multiple draws and there are no pre-payment penalties charged. The borrower will be required to pay $3,763 monthly in note payments on top of $107,500 down, plus a $6,450 origination fee at the closing. If Anita then sells the property for $510,000 she will make a gross profit of $28,400 after paying pack the principle amount and deducting the origination expense and total interest.
Loan Example 2
Brooke is a home builder and wants to acquire a home lot in Clinton, MS in order to construct a tri-plex. Because she doesn't have enough money to fund 100% of the purchase, she applies for a construction private money loan from Blue Mountain Finance Company with these parameters:
Based on a projected $850,000 re-sell after the 12 months, the numbers for this deal will look like this:
$850,000 sales price
- $472,000 note principle (80% LTV)
- $118,000 down payment (20% on 80% LTV)
- $18,880 origination fee (4% of the $472,000 principle)
- $66,080 interest payments (12 months x 14% interest)
= $175,040 gross profit
Anchor Loans is a Calabasas, CA based private lender. They provide loans in 34 states throughout the US. They offer new construction loans, fix-and-flip hard money loans, loans for rental properties, refinancing, hard money bridge loans, and ...
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 ...
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. ...
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 ...
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 ...