New Construction Loans in Texarkana, Arkansas
There are 18 construction private money lenders offering loans in Texarkana, AR. The mean note made to borrowers is approximately $923,864. Rates for hard money loans average 11.3%. The median loan issued in the city has a term of 15 months. The average origination fee for the loans is 3.1 points. Lenders in Texarkana average a 73% loan-to-value on their deals.
Loan Example 1
Thelma is a builder and she wants to buy a land lot in Texarkana, AR in order to construct a new duplex. In addition to the $260,000 cost of the land, Thelma approximates she will require around $150,000 in construction expenses to complete the project. To pay for the project, she applies for a new construction loan from Redwood Lending Corporation . They agree to make a note with a 12% rate of interest for 18 months and 4 origination points paid at the closing. Additionally, they agree to loan 75% of the aggregate expenses (the loan to value or "LTV"). Building fees are to be paid out in multiple draws and there are no pre-payment penalties assessed. According to this deal scenario, Thelma will be required to fund the following expenses: 1) $102,500 down (by the 75% LTV), 2) a $12,300 origination fee ($307,500 principle x 4%), and 3) $3,075 monthly payments. Thelma 's plan is to sell the new home for $590,000. If she succeeds, she will pocket a gross profit of $112,350 after deducting all costs ($307,500 principle amount, $102,500 cash down, $12,300 origination fee and $55,350 for 18 months of payments).
Loan Example 2
Joel is a real estate investor and decides to build a home on a lot in Texarkana, AR. In order to fund the deal, he applies for a new construction loan from Frontera Finance Corporation with these stipulations:
a) A $390,000 sales price for the land, b) $200,000 in construction expenses, c) an 65% loan to value (LTV), d) a 18 month term, e) a 10% interest rate, and f) a 3 point origination fee.
Joel wants to list the property when the note expires for $880,000. If he achievs this goal, the final numbers will be the following:
$880,000 sales price
- $383,500 loan principle (65% LTV)
- $206,500 down payment (35% on 65% LTV)
- $11,505 origination fee (3% of the $383,500 principle amount)
- $57,525 interest payments (18 months x 10% interest)
= $220,970 gross profit
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
1345 Avenue Of The Americas, 2nd Floor
New York, NY 10105
(800) 514-7350 Website
PB Financial Group is an asset-based lender based in Los Angeles, CA offering funding throughout California. They provide bridge loans, hard money loans for commercial properties, loans for investments properties, fix-and-flip hard money loans, cash out hard money loans, ...
Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
(952) 345-3445 Website
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75070
(214) 548-5190 Website
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 ...
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. ...
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 ...
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 ...
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 ...
George Smith Partners
10250 Constellation Blvd, Suite 2700
Los Angeles, CA 90067
(310) 557-8336 Website
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 ...
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 ...
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 ...
BSIP Capital is a Temple, TX based hard money lender. They offer loans throughout the country. They provide lending solutions for a variety of needs and situations, including commercial loans, hard money refinancing, long term rental property loans, ...