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 Prestonsburg, Kentucky
There are 20 construction hard money lenders operating in Prestonsburg, KY. In this city, the mean note amount is $406,000. Interest rates for loans average around 10.2%. The median note issued in this city has a length of 24 months. The average origination fee charged for loans is 3.2%. The median loan-to-value offered for loans in Prestonsburg is 76%.
Loan Example 1
Jerry is a builder and he wants to buy a land plot in Prestonsburg, KY to build a new duplex. Along with the $340,000 price of the land, Jerry approximates he will need about $200,000 in construction costs to build the house. In order to fund the deal, he applies for a construction loan from Riverside Lending Corporation . They contract to make a loan with a 11% interest rate for 18 months and 5 origination points to be paid at the closing. Additionally, they agree to fund 70% of the cumulative costs (the loan-to-value or "LTV"). There will be no pre-payment penalties for the note and construction costs will be paid out over multiple draws. By the terms of the loan, Jerry will need to fund $162,000 plus $18,900 in origination costs at the closing, then will begin making $3,465 monthly payments. If Jerry sells the project for $640,000 he will earn a gross profit of $18,730 after paying pack the principle amount and subtracting the origination expense and cumulative interest payments.
Loan Example 2
Jorge decides to acquire a vacant lot in Prestonsburg, KY and build a tri-plex and sell it. He obtains a construction loan from Blue Sky Investment Group with the following parameters:
- $230,000 sales price for the plot
- $150,000 in building costs
- 50% loan-to-value (LTV)
- 12 month length
- 11% rate of interest
- 5% origination charge
If Jorge succeeds in his goal of a $510,000 sale, the final numbers of the project would be as follows:
$510,000 sales price
- $190,000 principle on note (50% LTV)
- $190,000 down payment (50% on 50% LTV)
- $9,500 origination fee (5% of the $190,000 principle amount)
- $20,900 total interest paid (12 months x 11% interest)
= $99,600 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
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 ...
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75070
(214) 548-5190 Website
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 ...
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 ...
Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
(952) 345-3445 Website
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Dominion Mortgage Corporation
1990 S. Bundy Drive, Suite 640
Los Angeles, CA 90025
(310) 477-3041 Website
Dominion Mortgage Corporation is a Los Angeles, CA based private money lender. They provide loans all throughout the country. They offer short term loans, refinancing, private commercial loans, and new construction loans. They provide rates ...
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. ...
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 ...
Capital Funding Corporation
515 South Flower Street, 36th Floor
Los Angeles, CA 90071
(310) 561-1400 Website
Capital Funding Corporation is a Los Angeles, CA based private lender. They offer loans all throughout the United States. They offer ground-up construction loans and commercial loans. They offer loan amounts ranging from $3,000,000 to $50,000,000 ...