New Construction Loans in Spring Creek, Nevada
There are 24 construction hard money lenders operating in Spring Creek, NV. The mean note amount in the city is $291,429. The mean interest rate for hard money loans in Spring Creek is 11.4%. The average loan made in the city has a term of 14 months. The mean note includes a 3.1 percent origination fee. The mean loan-to-value (LTV) offered for loans in Spring Creek is 72%.
Loan Example 1
Willa is an investor who decides to purchase a vacant lot in Spring Creek, NV in order to build a new house. The plot is available for $340,000 and Willa expects that the building costs for the new house will be approximately $350,000. She takes a new construction loan from East Star Investment Group with these parameters: 1) a 12 month note at 11% interest, 2) interest only payments made each month, 3) 4 origination points at closing by the borrower, and 4) a 75% loan to value (LTV) on the land purchase and the building expenses. There will be no pre-payment penalties for the deal and building expenses will be paid out over a few draws. The borrower will have to pay $4,744 monthly in interest payments on top of $172,500 down, plus a $20,700 origination fee at closing. After deducting all expenses, Willa will pocket a $192,375 gross profit if she achieves his goal of a $960,000 sales price.
Loan Example 2
Samuel is a builder who wants to buy a land plot in Spring Creek, NV to build a new tri-plex. In order to fund the transaction, he obtains a construction loan from Johnson Lending Corporation with these parameters:
- $280,000 sales price for the lot
- $250,000 in building costs
- 50% loan to value (LTV)
- 18 month term
- 14% interest rate
- 2% origination charge
After the construction is finished, if Samuel sells the property for $790,000, the final numbers will be the following:
$790,000 sales price
- $265,000 principle (50% LTV)
- $265,000 down payment (50% on 50% LTV)
- $5,300 origination points (2% of the $265,000 principle)
- $55,650 interest payments (18 months x 14% interest)
= $199,050 gross profit
RLS Mortgage is a Phoenix, AZ based private lender. They provide loans in Arizona, California, and Nevada. They offer fix and flip hard money loans, rental property loans, private refinancing, new construction loans, commercial loans, and ...
Global Capital Partners
1345 Avenue Of The Americas, 2nd Floor
New York, NY 10105
(800) 514-7350 Website
Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
Socotra Capital is a private lender headquartered in Sacramento, CA providing loans throughout California and Nevada. They provide lending solutions for a variety of scenarios, including private refinancing, construction loans, commercial hard money loans, bridge loans, loans for investments ...
Newmark Investment and Loan is a hard money lender based in Sparks, NV providing loans in Nevada. They provide lending solutions for many different scenarios, including fix and flip loans, construction loans, short term bridge loans, and commercial ...
Liberty Financial is a private lender in La Mirada, CA providing loans in California, Washington, Oregon, Nevada, and Arizona. They provide private commercial loans, builder loans, fix-and-flip hard money loans, buy and hold loans, private refinancing, and ...
Seattle Funding Group
7272 E Indian School Road, Suite 540
Scottsdale, AZ 85251
(480) 450-3980 Website
Seattle Funding Group is private lender based in Scottsdale, AZ. They provide funding in 9 states across the country. They provide lending solutions for a variety of needs and situations, including long term rental property loans, commercial ...
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75070
(214) 548-5190 Website
Headquartered in Salt Lake City, UT, Taylor Derrick Capital is a hard money lender offering funding in 10 states across the country. They provide lending solutions for a variety of scenarios, including commercial loans, loans for rental properties, hard ...
Synergy Financial Partners is a Chatsworth, CA based hard money lender who offers funding throughout California, Nevada, and Texas. They provide loans for a variety of scenarios, including hard money loans for commercial properties, fix-and-flip loans, ground-up construction ...
Silver Arch Capital is a Hackensack, NJ based hard money lender. They provide loans across the US. They provide new construction loans, refinancing, and hard money loans for commercial properties. They offer terms between 1 ...
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. ...
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 ...
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 ...
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 ...
MCG is a hard money lender based in Feasterville Trevose, PA providing loans across the US. They provide hard money loans for commercial properties, refinancing, short term bridge loans, and builder loans. They ...
Miramar Financial Group is a private money lender in Del Mar, CA providing funding across the US. They provide short term fix and flip loans, builder loans, and commercial loans. Their loan guidelines are flexible, including ...