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 Mountain City, Tennessee
There are 22 new construction lenders offering loans in Mountain City, TN. In this city, the average amount loaned is $297,188. Interest rates for hard money loans average about 10.8%. The mean length for notes is 13 months. The mean loan includes a 2.7 point origination charge. Lenders typically offer a 73% loan to value on loans in Mountain City.
Loan Example 1
Chad decides to purchase a vacant lot in Mountain City, TN and build a house to sell it. The building costs will be about $200,000 and the plot costs $150,000. East Shore Investment Company makes a 70% loan to value (LTV) construction loan to Chad so he can pay for the deal. They also agree to a 8% interest rate for 18 months in addition to a four point origination fee. Chad is to receive the building costs in draws and there won't be a pre-payment penalty if he pays off the note before the 18 months is over. According to this deal scenario, the lender will fund $245,000 of the lot and building costs. The borrower will pay $105,000 down, a $9,800 origination fee, and $1,633 monthly in note payments. At the end of the loan, Chad sells the project for $490,000. This will make Chad a $100,800 total profit after re-paying all costs of the deal ($245,000 principle, $105,000 cash down, $9,800 origination charges, and $29,400 for 18 months of interest payments).
Loan Example 2
Bobbie is an investor and wants to construct a home on a land lot in Mountain City, TN. Because she does not have enough money to pay for the total project, she applies for a construction private money loan from Suburban Lending Group with these stipulations:
a) A $340,000 sales price for the vacant plot, b) $200,000 in construction expenses, c) an 60% loan-to-value (LTV), d) a 12 month length, e) a 10% interest rate, and f) a 2% origination charge.
After the building project is finished, if Bobbie sells the house for $720,000, the final numbers will be as follows:
$720,000 sales price
- $324,000 note principle (60% LTV)
- $216,000 cash paid at closing (40% on 60% LTV)
- $6,480 origination points (2% of the $324,000 principle)
- $32,400 total interest paid (12 months x 10% interest)
-----------------------
= $141,120 net profit
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 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 ...
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% ...
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 ...
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. ...
Dominion Mortgage Corporation is a Los Angeles, CA based private money lender. They provide loans all throughout the country. They offer short term loans, refinancing, private commercial loans, and new construction loans. They provide rates ...
Flip Funding is an asset-based lender in Sacramento, CA providing funding across the US. They provide investment property loans, cash out hard money loans, hard money loans for commercial properties, new construction loans, hard money bridge loans, and ...
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 ...
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 ...
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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