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 Montevallo, Alabama
A total of 23 records for new construction lenders were found in Montevallo, AL. The median note amount in the city is $296,786. Rates for loans average about 10.9%. The median length for notes is 13 months. The mean origination for the loans is 2.7 percent. Lenders in Montevallo average a 72% loan-to-value on their deals.
Loan Example 1
Paulette is a home builder who wants to purchase a land plot in Montevallo, AL in order to build a tri-plex. Along with the $150,000 price of the plot, Paulette expects she will need about $350,000 in building costs to complete the project. Perfect Finance makes a 50% loan to value (LTV) new construction loan to Paulette in order to pay for the transaction. They also agree to a 8% interest rate for 6 months plus a three point origination fee. Paulette will collect the building costs in draws and there won't be a pre-payment penalty if she repays the loan prior to the expiration. By this loan scenario, the lender will fund $250,000 of the plot and building costs. The borrower will pay $250,000 down, a $7,500 origination fee, and $1,667 per month in interest payments. At the end of the loan, Paulette sells the project for $650,000. This will net Paulette a $132,500 total profit after re-paying all costs of the loan ($250,000 principle, $250,000 cash down, $7,500 origination fee, and $10,000 for 6 months of interest payments).
Loan Example 2
Esmeralda is a builder who decides to build a single family home on a vacant lot in Montevallo, AL. Since she does not have enough cash to pay for the full transaction, she takes out a construction hard money loan from East Side Lending Company with these stipulations:
a) A $340,000 purchase price for the land plot, b) $250,000 in construction expenses, c) an 65% loan to value (LTV), d) a 6 month term, e) a 13% interest rate, and f) a 5 point origination fee.
If Esmeralda achieves her goal of a $790,000 sales price, the final numbers of the deal will be as follows:
$790,000 sales price
- $383,500 principle (65% LTV)
- $206,500 down payment (35% on 65% LTV)
- $19,175 origination fee (5% of the $383,500 principle amount)
- $24,928 total interest paid (6 months x 13% interest)
-----------------------
= $155,898 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, ...
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 ...
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 ...
Straightline Funding is an Atlanta, GA based private lender. They provide loans throughout Alabama, Georgia, Illinois, North Carolina, and South Carolina. They provide bridge loans, loans for investments properties, new construction loans, cash out loans, fix and ...
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 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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
Empire Financial Services is a Tukwilla, WA based hard money lender who offers funding in 16 states across the country. They offer lending solutions for a variety of situations, including hard money loans for commercial properties, fix and flip ...
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. ...
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 ...
Skyline Home Loans is a private money lender headquartered in Peoria, AZ providing loans across the US. They offer lending solutions for many different situations, including short term fix and flip loans, ground-up construction loans, and rental property ...
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 ...
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