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 Spencer, Indiana
Spencer, IN has 20 construction hard money lenders in the city. The average amount loaned is $335,625. The average interest rate for private loans in Spencer is 10.2%. The mean loan made in this city is for 18 months. The mean origination fee for loans is 2.6 points. Lenders typically offer a 74% loan to value on deals in Spencer.
Loan Example 1
Zachary wants to acquire a land lot in Spencer, IN to build a new house and resell it for a profit. The land is available for $190,000 and Zachary thinks that the building costs for the new house will be approximately $250,000. Oak Hill Investment Corporation will contribute to the deal at a 75% loan to value (LTV) with a 13%, 18 month construction loan with four origination points paid when the deal closes. They will not enforce a pre-payment penalty and they will contribute the building expenses in several draws. Given this loan scenario, the lender will pay $330,000 of the land and the building expenses. The borrower will pay $110,000 down, a $13,200 origination charge, and $3,575 monthly in interest payments. At the end of the loan, Zachary sells the house for $660,000. This will earn Zachary a $142,450 net profit after paying off all expenses of the loan ($330,000 principle, $110,000 cash down, $13,200 origination fee, and $64,350 for 18 months of interest payments).
Loan Example 2
Theodore is a home builder who wants to build a duplex on a land lot in Spencer, IN. In order to fund the transaction, he takes a construction loan from Advanced Lending Company with these terms:
a) A $380,000 sales price for the lot, b) $400,000 in building costs, c) an 50% loan to value (LTV), d) a 18 month term, e) a 11% interest rate, and f) a 4 point origination fee.
After the construction is finished, if Theodore lists the property for $1,130,000, the final numbers would be as follows:
$1,130,000 sales price
- $390,000 loan principle (50% LTV)
- $390,000 down payment (50% on 50% LTV)
- $15,600 origination fee (4% of the $390,000 principle amount)
- $64,350 interest payments (18 months x 11% interest)
-----------------------
= $270,050 gross 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, ...
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property 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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
Based in Ponte Vedra Beach, FL, SNAP.BUILD is a private lender offering funding all across the United States. They offer lending solutions for many different situations and needs, including buy and hold loans, ground-up construction loans, and short ...
Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...
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