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 Westfield, Indiana
We found 21 records for new construction lenders in Westfield, IN. Note amounts average approximately $293,269. The mean rate for hard money loans in Westfield is 11.1%. The mean note issued in the city has a term of 14 months. The average origination fee for loans is 3.5 percent. Lenders in Westfield average a 72% LTV on their loans.
Loan Example 1
Earl decides to buy a vacant lot in Westfield, IN and build a new house in order to sell it. The building costs will be around $150,000 and the lot will cost $400,000. In order to fund the project, he applies for a new construction loan from East Star Finance . They agree to issue a note with a 11% rate of interest for 18 months and four origination points paid at the closing. They also agree to loan 80% of the cumulative expenses (the loan-to-value / "LTV"). They will not enforce a pre-payment penalty and they will fund the building expenses in three draws. According to this deal scenario, Earl will be required to pay the following expenses: 1) $110,000 cash down (based on the 80% LTV), 2) a $17,600 origination fee ($440,000 principle x 4%), and 3) $4,033 monthly interest payments. After subtracting all expenses, Earl will earn a $179,800 gross profit if he succeeds in his goal of a $820,000 sales price.
Loan Example 2
Laurel wants to acquire a vacant lot in Westfield, IN and construct a single family home and resell it. She applies for a construction loan from ABC Investment Corporation with these parameters:
a) A $180,000 sales price for the vacant plot, b) $400,000 in construction costs, c) an 85% loan-to-value (LTV), d) a 6 month length, e) a 13% interest rate, and f) a 3 point origination fee.
Laurel plans to sell the property at the end of the term for $840,000. If she succeeds, the project numbers will be as follows:
$840,000 sales price
- $493,000 principle (85% LTV)
- $87,000 down payment (15% on 85% LTV)
- $14,790 origination fee (3% of the $493,000 principle amount)
- $32,045 interest payments (6 months x 13% interest)
-----------------------
= $213,165 total 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. ...
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 ...
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 ...
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 ...
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 ...
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. ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Miner Capital Funding is private money lender based in Belleville, IL. They offer funding all across the US. They offer ground up construction loans, hard money refinancing, long term rental property loans, private commercial loans, short term ...
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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