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 Phenix City, Alabama
Phenix City, AL has 22 construction hard money lenders serving the city. The average loan issued is approximately $286,072. The average interest rate for private loans in Phenix City is 11.2%. The mean length for notes is 12 months. The mean loan includes a 2.7 point origination fee. 73% is the median loan to value for offered by lenders in Phenix City.
Loan Example 1
Etta wants to buy a lot in Phenix City, AL to construct a tri-plex and resell it. Etta estimates that the construction costs will be around $300,000 and the land will cost $150,000. In order to fund the transaction, she obtains a construction loan from All State Funding Group . They contract to make a loan with a 12% rate of interest for 6 months and 4 origination points paid at closing. Additionally, they agree to fund 85% of the aggregate costs (the loan-to-value / "LTV"). Etta will receive the construction costs in draws and there will be no pre-payment penalty if she re-pays the loan prior to the expiration. According to this loan scenario, Etta will be required to pay the following: 1) $67,500 down (based on the 85% LTV), 2) a $15,300 origination charge ($382,500 principle x 4%), and 3) $3,825 monthly payments. If Etta sells the project for $670,000 she will make a gross profit of $181,750 after paying pack the principle amount and subtracting the origination expense and total interest.
Loan Example 2
Maggie is a real estate investor and decides to acquire a vacant lot in Phenix City, AL in order to build a duplex. To fund the project, she applies for a construction loan from Ocean View Finance with these parameters:
- $300,000 sales price for the plot
- $200,000 in building costs
- 75% loan-to-value (LTV)
- 18 month term
- 12% rate of interest
- 5% origination fee
If Maggie succeeds in her goal of a $700,000 sale, the final numbers of the deal will be as follows:
$700,000 sales price
- $375,000 principle (75% LTV)
- $125,000 cash paid at closing (25% on 75% LTV)
- $18,750 origination fee (5% of the $375,000 principle)
- $67,500 total interest paid (18 months x 12% interest)
-----------------------
= $113,750 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 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 ...
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 ...
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 ...
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 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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
Huntington Coast Capital is hard money lender based in Huntington Beach, CA. They offer loans throughout the country. They offer short term loans, cash out hard money loans, commercial loans, and builder loans. They offer ...
Barnett REI Finance is private lender headquartered in Northbrook, IL. They offer funding across the US. They offer long term rental property loans, fix-and-flip loans, and construction loans. Their loan parameters are versatile, including ...
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