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. ...
New Construction Loans in Pierre, South Dakota
A total of 11 records for new construction hard money lenders were found in Pierre, SD. In this city, the average note amount is $426,786. Interest rates on hard money loans issued to Pierre investors average about 11.4%. The typical note issued in the city has a length of 19 months. The mean origination fee added to the loans is 3.1%. Lenders in Pierre average a 76% loan to value on their deals.
Loan Example 1
Lewis is a home builder who decides to construct a single family home on a vacant lot in Pierre, SD. The building costs will be about $250,000 and the lot costs $250,000. Easy Brook Funding will contribute to the project at a 70% loan to value (LTV) with a 8%, 12 month new construction loan with four origination points to be paid at closing. Construction fees are to be paid out in multiple draws and there are no pre-payment penalties charged. The borrower will be required to pay $2,333 per month in loan payments in addition to $150,000 down, plus a $14,000 origination charge at the closing. Lewis 's plan is to sell the project for $700,000. If he succeeds, he will earn a total profit of $158,000 after deducting all expenses ($350,000 principle, $150,000 cash down, $14,000 origination charges and $28,000 for 12 months of payments).
Loan Example 2
Johnny is a builder in Pierre, SD. He wants to acquire a land plot to build a new house. He takes a new construction loan from Blue Door Lending Corporation with these stipulations:
- $150,000 purchase price for the vacant lot
- $400,000 in building costs
- 65% loan-to-value (LTV)
- 6 month length
- 11% interest rate
- 2% origination charge
If Johnny succeeds in his goal of a $680,000 sales price, the final numbers of the project would be the following:
$680,000 sales price
- $357,500 loan principle (65% LTV)
- $192,500 down payment (35% on 65% LTV)
- $7,150 origination fee (2% of the $357,500 principle amount)
- $19,663 total interest paid (6 months x 11% interest)
= $103,188 net profit
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
1345 Avenue Of The Americas, 2nd Floor
New York, NY 10105
(800) 514-7350 Website
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 ...
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 ...
George Smith Partners
10250 Constellation Blvd, Suite 2700
Los Angeles, CA 90067
(310) 557-8336 Website
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 ...
Rodeo Capital Inc is private lender headquartered in Los Angeles, CA. They provide loans throughout the US. They offer lending solutions for many different situations, including refinancing, short term bridge loans, hard money construction loans, fix and ...
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 ...
Aspen Capital Funding
9400 SW Beaverton-Hillsdale Hwy, Suite 131
Beaverton, OR 97005
(503) 295-5800 Website
Aspen Capital Funding is a Beaverton, OR based hard money lender offering funding all across the country. They provide hard money bridge loans, commercial loans, and hard money construction loans. They offer loan amounts ranging from ...
Mountain Real Estate Capital
13860 Ballantyne Corporate Place, 130
Charlotte, NC 28277
(704) 930-7501 Website
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 ...
Custom Mortgage is private lender headquartered in Encino, CA. They offer funding throughout the US. They offer hard money loans for commercial properties, loans for investments properties, fix-and-flip loans, cash out hard money loans, bridge loans, ...