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 Rochester, Minnesota
Rochester, MN has 19 new construction lenders serving the city. Loan amounts average approximately $581,459. The median interest rate for loans in Rochester is 10.4%. The typical term offered for loans is 21 months. The average hard money loan issued in the city carries a 2.9 point origination fee. The median loan to value offered for loans in Rochester is 72%.
Loan Example 1
Rosalyn wants to acquire a land plot in Rochester, MN and build a new home to sell it for a profit. Along with the $310,000 cost of the plot, Rosalyn approximates she will require around $400,000 in construction expenses to finish the home. She applies for a new construction loan from Success Funding Company with the following stipulations: 1) a 12 month note at 11% interest, 2) interest only payments made each month, 3) 3 origination points paid at closing by the borrower, and 4) a 60% loan to value (LTV) on the plot purchase and the construction expenses. There will be no pre-payment penalties on the deal and construction expenses will be paid out over multiple draws. According to the terms of this loan, Rosalyn will need to pay $284,000 plus $12,780 in origination fees at closing, then will begin making $3,905 monthly payments. If Rosalyn sells the property for $1,020,000 she will make a total profit of $250,360 after repaying the principle amount and subtracting the origination expense and cumulative interest payments.
Loan Example 2
Lorene is a real estate investor and she decides to buy a land plot in Rochester, MN and build a new duplex. She applies for a construction loan from Blue Sky Funding Corporation with the following stipulations:
- $260,000 sales price for the land
- $400,000 in building costs
- 85% loan to value (LTV)
- 12 month length
- 10% rate of interest
- 2% origination fee
Based on a projected $920,000 re-sell after the 12 month term, the numbers for this project will be the following:
$920,000 sales price
- $561,000 principle on note (85% LTV)
- $99,000 down payment (15% on 85% LTV)
- $11,220 origination fee (2% of the $561,000 principle)
- $56,100 total interest paid (12 months x 10% interest)
-----------------------
= $192,680 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. ...
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 ...
Headquartered in Wayzata, MN, Renovo Capital is a hard money lender providing funding in Minneapolis, St Paul, Duluth, St Cloud, and Rochester. They offer fix-and-flip hard money loans, hard money refinancing, and ground up construction loans. ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
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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