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 Taylorville, Illinois
Taylorville, IL has 26 new construction lenders operating in the city. The average loan amount is $287,857. Interest rates on private loans issued to Taylorville borrowers average around 11.0%. 12 months is the average length for loans offered in this city. The average loan includes a 2.8 point origination fee. Lenders in Taylorville average a 73% loan-to-value (LTV) on their loans.
Loan Example 1
Tommy is an investor in Taylorville, IL. He decides to buy a land plot and build a new house. The plot is available for $360,000 and Tommy estimates the building costs for the project will be about $300,000. Blue Square Investment Company will loan on the project at a 75% loan to value (LTV) with a 9%, 18 month new construction loan with 2 origination points to be paid at closing. They agree not to assess a pre-payment penalty and they will pay out the building expenses in four draws. According to the stipulations of the loan, Tommy will have to pay $165,000 plus $9,900 in origination fees at closing, then will start making $3,713 monthly payments. At the end of the loan, Tommy re-sells the property for $920,000. This will net Tommy a $183,275 net profit after repaying all expenses of the deal ($495,000 principle, $165,000 cash down, $9,900 origination fee, and $66,825 for 18 months of payment).
Loan Example 2
Alan is a real estate investor in Taylorville, IL. He wants to buy a vacant lot and build a new tri-plex. To fund the transaction, he takes out a new construction loan from South Side Lending Corporation with the following stipulations:
- $230,000 sales price for the plot
- $300,000 in construction costs
- 55% loan-to-value (LTV)
- 18 month term
- 13% rate of interest
- 5% origination fee
If Alan succeeds in his goal of a $740,000 sales price, the final numbers of the deal would be as follows:
$740,000 sales price
- $291,500 loan principle (55% LTV)
- $238,500 cash paid at closing (45% on 55% LTV)
- $14,575 origination fee (5% of the $291,500 principle amount)
- $56,843 interest payments (18 months x 13% interest)
-----------------------
= $138,583 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. ...
NSB Financing is a Miami, FL based hard money lender. They offer loans in 10 states throughout the United States. They offer loans for many different situations and needs, including commercial hard money loans, hard money construction 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 ...
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 ...
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 ...
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 ...
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 ...
New Wave Loans is an asset-based lender based in Aventura, FL providing funding throughout New York, Arizona, Illinois, and Florida. They provide lending solutions for a variety of situations, including buy and hold loans, commercial loans, ground up ...
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 ...
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. ...
Based in Santa Ana, CA, Unlimited Capital Group is a private lender offering loans in 15 states across the country. They offer loans for a variety of situations, including fix-and-flip loans, refinancing, bridge loans, loans for rental properties, commercial ...
Straightline Funding is an Atlanta, GA based private lender. They provide loans throughout Alabama, Georgia, Illinois, North Carolina, and South Carolina. They provide bridge loans, loans for investments properties, new construction loans, cash out loans, fix 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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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