Monthly Archives: September 2015

11,044 SQ FT Commercial Building – Purchase Loan

Purchase

Property Location: Tryon, NC

Property Value: $220,000

Loan Amount: $135,000

Interest Rate: 13%

Term: 12 Months

Closed In: 3 Weeks

Borrower brought $73,000 to settle the HUD on this purchase of a 10 bedroom inn and our loan took care of the difference.

1,804 SQ FT Single Family Home – Construction Loan

Cash-Out Refinance

Property Location: Blytheville, AR

Property Value: $130,000

Loan Amount: $45,000

Interest Rate: 12%

Term: 24 Months

Closed In: 2 Weeks

Borrower pledged free and clear real estate in order to obtain additional funds to complete a full rehab of this property before putting it on the market for sale.

3,521 SQ FT Combined – Single Family Home Purchase Loan

Cash-Out

Purchase

Refinance

Property Location: Ypsilanti, MI

Total Property Values: $209,000

Loan Amount: $45,000

Interest Rate: 12%

Term: 24 Months

Closed In: 2 Weeks

Borrower pledged 2 Free & Clear rental properties to complete the purchase of a new single-family home.

2,577 SQ FT Single Family Home – Cash Out Refinance Loan

Cash-Out Refinance

Property Location: Dublin, GA

Property Value: $138,000

Loan Amount: $54,000

Interest Rate: 12%

Term: 24 Months

Broker Commission: 3 Points

Borrower pledged free and clear real estate for debt consolidation and minor improvements to the property.

2,880 SQ FT Multi-Family Unit – Cash-Out Refinance

Single Family Refinance

Property Location: Kansas City, KS

Property Value: $85,000

Loan Amount: $45,000

Interest Rate: 12%

Term: 24 Months

Closed In: 1 Week

Repeat borrower purchased this multi-family building with cash and came to us for additional funds to complete rehab.

20,038 SQ FT Multi-Unit Building – Purchase Loan

Multi-Unit Building

Property Location: St. Louis, MO

Property Value: $187,000

Loan Amount: $78,000

Interest Rate: 12%

Term: 24 Months

Broker Commission: 2 Points

Closed In: 3 Weeks

Borrower pledged 3 free & clear properties and brought $27,000 to complete the purchase of this 12 unit apartment building.

1,207 SQ FT – Single Family Home – Construction Loan

Construction Loan

Property Location: Camp Hill, PA

Property Value: $385,000 (after completion of planned rehab)

Loan Amount: $115,000

Interest Rate: 13%

Term: 12 Months

Closed In: 2 Weeks

Repeat borrower/Experienced house flipper, bought the property with cash and plans to use our loan to add a second floor to the property as well as make other upgrades before putting the house on the market.

6,098 SQ FT Commercial Building – Purchase Loan

Commercial Purchase

Property Location: Muskegon, MI

Property Value: $86,000

Loan Amount: $15,000

Interest Rate: 12%

Term: 24 Months

Closed In: 19 Days

Borrower brought $10,000 towards the purchase of this retail location and T&M carried the difference.

3,555 SQ FT Commercial Building – Cash Out Refinance Loan

Commercial Cash-Out Refi

Property Location: Columbus, GA

Property Value: $213,000

Loan Amount: $95,000

Interest Rate: 12%

Term: 24 Months

Broker Commission: 4 Points

Borrower pledged free and clear office building to get funds to complete minor exterior rehab and interior updates.

3,500 SQ FT Single Family Home – Construction Loan Refinance

Rehab Residential

Property Location: Raleigh, NC

Property Value: $365,000

Loan Amount: $65,000

Interest Rate: 12%

Term: 18 Months

Broker Commission: 5 Points

Closed In: 3 Weeks

Comments: Customer completed 70% of the project out of pocket, we lent her the remaining money needed to finish construction. Property was free & clear.