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 Prattville, Alabama
There are 23 results for new construction lenders operating in Prattville, AL. Loan amounts average around $296,786. Interest rates on private loans issued to Prattville borrowers average 10.9%. 13 months is the median term for loans made in this city. The average note includes a 2.7 point origination cost. 72% is the mean loan to value (LTV) offered for offered by lenders in Prattville.
Loan Example 1
Calvin is a real estate investor in Prattville, AL. He wants to acquire a land plot and build a new single family home. On top of the $260,000 cost of the land, Calvin thinks he will need about $200,000 in building expenses to finish the house. He obtains a new construction loan from All Star Lending with the following stipulations: 1) a 6 month note at 10% interest, 2) interest-only payments made monthly, 3) 3 origination points paid at closing by the borrower, and 4) a 60% loan to value (LTV) on both the plot and the building expenses. Construction costs are to be paid out in multiple draws and there will be no pre-payment penalties charged. Given this deal scenario, Calvin will need to pay the following: 1) $184,000 down (based on the 60% LTV), 2) a $8,280 origination fee ($276,000 loan principle x 3%), and 3) $2,300 monthly payments. If Calvin then sells the property for $640,000 he will make a gross profit of $157,920 after paying pack the loan principle and subtracting the origination expense and cumulative interest.
Loan Example 2
Desiree is a builder who wants to build a tri-plex on a vacant lot in Prattville, AL. To pay for the deal, she obtains a new construction loan from Capable Funding Group with the following specifications:
- $260,000 purchase price for the land
- $250,000 in construction expenses
- 65% loan-to-value (LTV)
- 18 month term
- 14% interest rate
- 3% origination fee
Desiree wants to list the property when the loan expires for $680,000. If she achievs this goal, the deal numbers will be as follows:
$680,000 sales price
- $331,500 note principle (65% LTV)
- $178,500 cash paid at closing (35% on 65% LTV)
- $9,945 origination points (3% of the $331,500 principle)
- $69,615 total interest paid (18 months x 14% interest)
-----------------------
= $90,440 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, ...
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 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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Based in Water Mill, NY, Hamptons Financial is a hard money lender offering funding throughout the United States. They offer short term fix and flip loans, private commercial loans, new construction loans, hard money refinancing, bridge loans, and ...
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. ...
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 ...
Capital Line Funding Group is hard money lender headquartered in La Jolla, CA. They provide funding all throughout the country. They offer short term loans, private refinancing, commercial loans, fix-and-flip loans, and construction loans. Their ...
North Shore Funding is a Syosset, NY based private lender. They provide loans across the US. They provide lending solutions for many different scenarios, including commercial hard money loans, bridge loans, and hard money construction loans. ...
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