New Mexico New Construction Loans
There are 13 new construction hard money lenders operating in New Mexico. The average note amount is $444,777. Interest rates on loans issued to New Mexico investors average 10.7%. 17 months is the average length for loans issued in this state. The average origination percentage charged for the loans is 3.5%. The mean LTV offered for loans in New Mexico is 75%.
Loan Example 1
Jimmy is a builder and he decides to purchase a vacant lot in Santa Fe, NM in order to construct a new house. The land costs $260,000 and Jimmy estimates that the construction costs for the new house will be approximately $250,000. Red City Finance Group makes a 50% loan-to-value (LTV) construction loan to Jimmy in order to complete the transaction. They also agree to a 9% rate of interest for 6 months plus a 5 point origination fee. They will not enforce a pre-payment penalty and they will pay out the construction costs in three draws. The borrower will need to pay $1,913 per month in interest payments in addition to $255,000 down, plus a $12,750 origination fee at closing. After subtracting all costs, Jimmy will pocket a $95,775 gross profit if he achieves his goal of a $630,000 sales price.
Loan Example 2
Raul is an investor and he decides to build a home on a vacant lot in Alamogordo, NM. To pay for the project, he applies for a new construction loan from USA Funding with these stipulations:
After the project is finished, if Raul sells the property for $510,000, the final numbers would be as follows:
$510,000 sales price
- $322,500 loan principle (75% LTV)
- $107,500 cash paid at closing (25% on 75% LTV)
- $12,900 origination fee (4% of the $322,500 principle amount)
- $62,888 total interest paid (18 months x 13% interest)
= $4,213 net profit
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
Global Capital Partners Fund
555 Fifth Avenue, Suite 302
New York, NY 10017
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
A diverse portfolio ...
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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 $7.1 Billion life-to-date in total loan volume to real estate investors. ...
28 Bloomfield Avenue
Pine Brook, NJ 07058
Stratton Equities is the Nationwide leading hard money and NON-QM lender. We are passionate about helping small business owners, contractors, and Real Estate investors, swiftly and efficiently finance their investment goals. We customize our hard money loan programs for each ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Lima One Capital
201 East McBee Ave, Suite 300
Greenville, SC 29601
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 ...
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75071
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 their own ...
11 Middle Neck Road Suite 314
Great Neck, NY 11021
Sharestates is a private, hard money lender in 46 states across the US. We offer financing solutions for a variety of needs and situations, including hard money loans for commercial properties, residential fix and flips, ground up construction, and long ...
Red Rock Capital
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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 ...
Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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 construction loans, ...
Investor Rehab Funding
1995 North Park Place SE, Suite 415
Atlanta, GA 30339
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. ...
Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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 ...
Empire Financial Services
PO Box 58804
Tukwilla, WA 98138
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 ...