
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
There are 21 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.
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).
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
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $500k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
A diverse portfolio ...
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