Ask an Expert: 1-888-473-6410
There are 21 construction hard money lenders serving Stevensville, MI. Note amounts average approximately $297,188. Interest rates for loans average around 10.8%. The median term offered for notes is 13 months. The average hard money loan issued in the city includes a 2.7 point origination charge. Lenders in Stevensville average a 73% loan-to-value (LTV) on their deals.
Laurel is a real estate investor and she decides to purchase a home lot in Stevensville, MI and construct a tri-plex. Laurel thinks that the building costs will be approximately $150,000 and the lot costs $350,000. South Star Funding Corporation will contribute to the project at a 80% loan-to-value (LTV) with a 8%, 6 month construction loan with five origination points to be paid when the transaction closes. They agree not to charge a pre-payment penalty and they will fund the building costs in a few draws. By this loan scenario, Laurel will need to fund the following: 1) $100,000 cash down (based on the 80% LTV), 2) a $20,000 origination charge ($400,000 loan principle x 5%), and 3) $2,667 monthly interest payments. If Laurel sells the home for $670,000 she will make a gross profit of $134,000 after paying pack the principle and deducting the origination fee and total interest.
Miguel wants to purchase a lot in Stevensville, MI and build a tri-plex in order to sell it. He gets a construction loan from South Side Lending Corporation with the following parameters:
a) A $250,000 sales price for the vacant plot, b) $300,000 in construction expenses, c) an 70% loan to value (LTV), d) a 12 month term, e) a 13% interest rate, and f) a 2% origination charge.
Miguel intends to list the house when the note expires for $790,000. If he succeeds, the final numbers will be the following:
$790,000 sales price
- $385,000 principle (70% LTV)
- $165,000 down payment (30% on 70% LTV)
- $7,700 origination fee (2% of the $385,000 principle)
- $50,050 total interest paid (12 months x 13% interest)
-----------------------
= $182,250 gross profit
Based in Chicago, IL, Chicago Rehab Loans is an asset-based lender offering funding throughout Chicago, Milwaukee, Madison, Gary, and South Bend. They offer commercial loans, construction loans, loans for rental properties, hard money bridge loans, fix-and-flip loans, ...
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 ...
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 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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
Flip Funding is an asset-based lender in Sacramento, CA providing funding across the US. They provide investment property loans, cash out hard money loans, hard money loans for commercial properties, new construction loans, hard money bridge loans, 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 ...
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. ...
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 ...
Based in Charlotte, NC, Finance of America Commercial is a private money lender providing funding all throughout the United States. They offer lending solutions for a variety of situations and needs, including refinancing, hard money bridge loans, fix and ...
Your Information is Processing