Montana New Construction Loans
Montana has 7 construction hard money lenders offering loans in the state. The average loan amount in the state is $494,875. Rates for loans average 10.8%. The mean loan made in the state is 18 months in length. A typical loan made in the state includes a 3.5 percent origination charge. Lenders offer on average a 74% loan-to-value (LTV) on deals in Montana.
Loan Example 1
Randall is a builder who wants to construct a duplex on a lot in Kalispell, MT. The land is listed for $300,000 and Randall expects that the construction costs for the new house will be approximately $150,000. In order to pay for the project, he takes a construction loan from Superior Investment Corporation . They contract to make a loan with a 8% rate of interest for 12 months and 3 origination points paid at the closing. Additionally, they agree to fund 50% of the aggregate costs (the loan to value or "LTV"). Randall will receive the construction costs in draws and there won't be a pre-payment penalty if he pays off the loan before it expires. By this deal scenario, the lender will fund $225,000 of the purchase and the construction costs. The borrower will need to pay $225,000 down, a $6,750 origination charge, and $1,500 per month in interest payments. After subtracting all costs, Randall will earn a $125,250 total profit if he achieves his goal of a $600,000 sales price.
Loan Example 2
Matthew is a home builder in Bozeman, MT. He decides to purchase a lot and build a new duplex. Because he doesn't have enough cash to fund the full transaction, he obtains a construction private money loan from Mountain Rock Funding Group with these terms:
Based on a projected $370,000 re-sell after the 6 month term, the numbers for this deal will look like this:
$370,000 sales price
- $186,000 principle on note (60% LTV)
- $124,000 cash paid at closing (40% on 60% LTV)
- $3,720 origination points (2% of the $186,000 principle)
- $12,090 interest payments (6 months x 13% interest)
= $44,190 net profit
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
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 ...
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 ...
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 ...
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 Salt Lake City, UT, Taylor Derrick Capital is a hard money lender offering funding in 10 states across the country. They provide lending solutions for a variety of scenarios, including commercial loans, loans for rental properties, hard ...