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 Spring Hill, Tennessee
Spring Hill, TN has 23 construction private money lenders operating within the city. The median loan amount is $297,188. Interest rates on hard money loans made to Spring Hill borrowers average 10.8%. 13 months is the median length for loans made in the city. The average points charged on loans is 2.7%. Lenders offer on average a 73% loan-to-value (LTV) on loans in Spring Hill.
Loan Example 1
Tracy is a real estate investor in Spring Hill, TN. He wants to purchase a land plot and construct a new single family home. The construction costs will be approximately $350,000 and the plot is listed for $340,000. In order to fund the deal, he takes out a new construction loan from Smith Investment Corporation . They contract to issue a loan with a 9% rate of interest for 6 months and 3 origination points to be paid at the closing. Additionally, they agree to loan 80% of the aggregate costs (the loan-to-value / "LTV"). Tracy will collect the construction costs in draws and there will be no pre-payment penalty if he repays the loan before the 6 months is over. By this loan scenario, Tracy will need to pay the following expenses: 1) $138,000 cash down (by the 80% LTV), 2) a $16,560 origination charge ($552,000 principle x 3%), and 3) $4,140 monthly payments. If Tracy then sells the home for $820,000 he will pocket a gross profit of $88,600 after returning the principle and deducting the origination points and total interest payments.
Loan Example 2
Reba is an investor and decides to construct a tri-plex on a land lot in Spring Hill, TN. Since she doesn't have the cash to pay for 100% of the project, she applies for a construction hard money loan from North Shore Finance Company with these stipulations:
- $240,000 sales price for the lot
- $150,000 in construction costs
- 75% loan to value (LTV)
- 12 month term
- 9% interest rate
- 5% origination charge
Reba wants to list the property when the loan expires for $480,000. If she achievs this goal, the final numbers will be as follows:
$480,000 sales price
- $292,500 principle (75% LTV)
- $97,500 down payment (25% on 75% LTV)
- $14,625 origination points (5% of the $292,500 principle)
- $26,325 interest payments (12 months x 9% interest)
-----------------------
= $49,050 total profit
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. ...
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 ...
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 ...
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 ...
Paces Funding is hard money lender based in Atlanta, GA. They offer loans in Nashville and Atlanta. They offer lending solutions for a variety of needs and situations, including hard money construction loans, investment property loans, commercial ...
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 ...
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. ...
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 ...
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 ...
Empire Financial Services is a Tukwilla, WA based hard money lender who offers funding in 16 states across the country. They offer lending solutions for a variety of situations, including hard money loans for commercial properties, fix and flip ...
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 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 ...
LYNK Capital is a Jacksonville, FL based private money lender who offers loans in 12 states throughout the country. They provide commercial loans, construction loans, and fix-and-flip loans, multi-unit (5+) okay. Their loan guidelines are flexible, including rates starting at 7.9% ...
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 ...
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 ...
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 ...
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 ...
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 ...
Huntington Coast Capital is hard money lender based in Huntington Beach, CA. They offer loans throughout the country. They offer short term loans, cash out hard money loans, commercial loans, and builder loans. They offer ...
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 ...
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