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 North Ridgeville, Ohio
There are 25 construction private money lenders offering loans in North Ridgeville, OH. In this city, the average amount for loans is $297,188. The average interest rate for private loans in North Ridgeville is 10.8%. 13 months is the average length for loans made in the city. The average origination fee for the loans is 2.7 points. The typical loan to value for loans in North Ridgeville is 74%.
Loan Example 1
Jordan is an investor and wants to construct a duplex on a vacant lot in North Ridgeville, OH. The plot is available for $320,000 and Jordan expects that the building costs for the project will be approximately $300,000. In order to fund the project, he takes a construction loan from Credence Funding Corporation . They contract to provide a note with a 13% rate of interest for 12 months and 4 origination points paid when the deal closes. Additionally, they agree to loan 55% of the total costs (the loan to value or "LTV"). They agree not to enforce a pre-payment penalty and they will contribute the building costs in several draws. By this loan scenario, Jordan will have to contribute the following: 1) $279,000 down (based on the 55% LTV), 2) a $13,640 origination fee ($341,000 principle x 4%), and 3) $3,694 monthly payments. After subtracting all costs, Jordan will pocket a $152,030 gross profit if he achieves his goal of a $830,000 sales price.
Loan Example 2
Walter is an investor in North Ridgeville, OH. He wants to buy a land lot and construct a new house. In order to pay for the transaction, he obtains a construction loan from Assurance Investment Group with the following specifications:
- $320,000 purchase price for the vacant lot
- $300,000 in construction costs
- 80% loan to value (LTV)
- 18 month term
- 9% interest rate
- 4% origination charge
After the project is complete, if Walter lists the house for $770,000, the final numbers will be as follows:
$770,000 sales price
- $496,000 principle on note (80% LTV)
- $124,000 down payment (20% on 80% LTV)
- $19,840 origination fee (4% of the $496,000 principle amount)
- $66,960 interest payments (18 months x 9% interest)
-----------------------
= $63,200 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, ...
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. ...
Hilton Financial Corporation is an asset-based lender headquartered in Phoenix, AZ offering loans in Arizona, Utah, Colorado, Ohio, and Hawaii. They offer loans for a variety of situations, including fix-and-flip hard money loans, bridge loans, builder loans, hard ...
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 ...
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 ...
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 ...
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 ...
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 ...
The Mortgage Banc is a hard money lender headquartered in Columbus, OH providing funding in Ohio. They provide lending solutions for many different situations and needs, including investment property loans, builder loans, and fix and flip 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 ...
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 ...
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 ...
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% ...
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 ...
Brisco Funding is an asset-based lender in Chappaqua, NY providing funding throughout the US. They offer lending solutions for many different situations and needs, including construction loans, buy and hold loans, short term loans, and short term fix ...
Fund That Flip is private lender headquartered in New York, NY. They offer funding across the country. They offer fix-and-flip hard money loans, ground-up construction loans, and long term rental property loans. Their loan guidelines ...
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 ...
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 ...
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 ...
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 ...
Knighthead Funding is private lender based in Greenwich, CT. They provide loans throughout the country. They provide hard money construction loans, short term loans, hard money loans for commercial properties, private refinancing, fix-and-flip hard money loans, ...
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