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 Park Rapids, Minnesota
A total of 18 records for construction hard money lenders were found in Park Rapids, MN. The mean loan amount in this city is $498,959. Rates on hard money loans issued to Park Rapids borrowers average around 11.2%. 17 months is the mean length for loans offered in the city. The average origination fee added to the loans is 3.6%. 74% is the average LTV offered for offered by lenders in Park Rapids.
Loan Example 1
Courtney is a real estate investor and decides to build a single family home on a lot in Park Rapids, MN. On top of the $170,000 price of the plot, Courtney estimates she will need about $300,000 in building costs to build the project. River View Finance will contribute to the deal at a 50% loan-to-value (LTV) with a 12%, 12 month construction loan with 4 origination points to be paid when the transaction closes. Building fees are to be paid out in multiple draws and there are no pre-payment penalties. Given the stipulations of this loan, Courtney will need to pay $235,000 plus $9,400 in origination fees at closing, then will start making $2,350 per month payments. Courtney 's plan is to sell the new house for $560,000. If she achieves this, she will make a total profit of $52,400 after subtracting all expenses ($235,000 principle, $235,000 cash down, $9,400 origination charges and $28,200 for 12 months of interest payments).
Loan Example 2
Christopher is a builder in Park Rapids, MN. He decides to acquire a land lot to build a new house. He gets a construction loan from Assurance Funding Company with the following specifications:
a) A $210,000 purchase price for the vacant plot, b) $200,000 in building expenses, c) an 80% loan to value (LTV), d) a 18 month term, e) a 12% rate of interest, and f) a 2 point origination charge.
Christopher intends to list the project when the loan expires for $550,000. If he succeeds, the deal numbers will be the following:
$550,000 sales price
- $328,000 loan principle (80% LTV)
- $82,000 cash paid at closing (20% on 80% LTV)
- $6,560 origination points (2% of the $328,000 principle amount)
- $59,040 total interest paid (18 months x 12% interest)
-----------------------
= $74,400 gross profit
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
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 ...
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 ...
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and 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 ...
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 ...
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. ...
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 ...
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 ...
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. ...
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 ...
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 ...
360 CB Capital Funding is a White Plains, NY based hard money lender. They provide funding all across the US. They provide ground up construction loans, short term loans, long term rental property loans, cash out loans, fix ...
Commonwealth Equity Funding is an asset-based lender in Boston, MA providing loans throughout the US. They provide fix and flip hard money loans, commercial loans, ground up construction loans, and bridge loans. Their loan guidelines are versatile, ...
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