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 ...
New Construction Loans in Sioux Falls, South Dakota
Sioux Falls, SD has 11 new construction hard money lenders operating within the city. The mean loan amount is $472,917. The mean interest rate for hard money loans in Sioux Falls is 11.1%. The mean length offered for loans is 21 months. The average loan issued in the city carries a 6.8 percent origination cost. 76% is the average loan-to-value (LTV) offered for for loans in Sioux Falls.
Loan Example 1
Jordan is an investor and decides to buy a vacant lot in Sioux Falls, SD in order to construct a new home. Jordan thinks the building expenses will be approximately $250,000 and the land is listed for $320,000. He obtains a new construction loan from Oceanside Investment Company with the following specifications: 1) a 12 month note at 8% interest, 2) interest-only payments made every month, 3) 3 origination points at closing by the borrower, and 4) a 85% loan-to-value (LTV) on the lot purchase and the building expenses. Building costs will be paid out in draws and there will be no pre-payment penalties assessed. According to this deal scenario, Jordan will need to contribute the following expenses: 1) $85,500 down (by the 85% LTV), 2) a $14,535 origination fee ($484,500 principle x 3%), and 3) $3,230 monthly interest payments. If Jordan sells the home for $680,000 he will earn a gross profit of $56,705 after re-paying the loan principle and subtracting the origination fee and cumulative interest payments.
Loan Example 2
Mitchell is a builder in Sioux Falls, SD. He wants to purchase a land plot to construct a new tri-plex. He obtains a new construction loan from City Investment Group with the following terms:
a) A $230,000 purchase price for the vacant lot, b) $300,000 in construction costs, c) an 85% loan-to-value (LTV), d) a 6 month term, e) a 11% rate of interest, and f) a 4 point origination charge.
If Mitchell achieves his goal of a $740,000 sale, the final numbers of the project will be the following:
$740,000 sales price
- $450,500 principle (85% LTV)
- $79,500 cash paid at closing (15% on 85% LTV)
- $18,020 origination points (4% of the $450,500 principle)
- $24,778 interest payments (6 months x 11% interest)
= $167,203 net profit
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 ...
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. ...
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 ...
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. ...
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 ...
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 ...
Commonwealth Equity Funding
Commonwealth Equity Funding is an asset-based lender in Boston, MA providing loans throughout the US. They provide fix and flip hard money loans, commercial loans, ground up construction loans, and bridge loans. Their loan guidelines are versatile, ...
Epic Capital Solutions is a Reno, NV based private money lender. They provide loans across the country. They offer short term fix and flip loans, commercial loans, hard money bridge loans, cash out loans, and builder loans. ...