Monthly Archives: October 2015

2,200 SQ FT SFR – Purchase Loan

Cash-Out Refi

Property Location: Bridgeport, MI

Property As-is Value: $64,000

Loan Amount: $45,000

Interest Rate: 12%

Term: 12 Months

Closed In: 2 Weeks

Borrower brought $20,000 cash to the deal on this purchase. Borrower plans to fix and flip the property and sell it within 12 months.

 

3,000 SQ FT Commercial Building – Purchase Loan

Bar-Restaurant Purchase

Location: Titusville, PA

Property Combined Values: $356,000

Loan Amount: $155,000

Interest Rate: 12%

Term: 24 Months

Borrower pledged 3 free and clear properties towards the purchase of this commercial building. He hopes to make small renovations and turn it into a bar/restaurant.

2,221 SQ FT – 2 Single Family Homes – Cash Out Refinance

Cash-Out Refi

SFR

Property Location: Dayton, OH

Property Combined Value: $180,000

Loan Amount: $80,000

Interest Rate: 12%

Term: 12 Months

Closed In: 2 Weeks

Repeat borrower pledged two free and clear properties to obtain funds to fix and flip them.

1,800 SQ FT Single Family Residence – Purchase Loan

Purchase

Property Location: Wilton, ME

Property Value: $162,000

Loan Amount: $55,000

Interest Rate: 12%

Term: 18 Months

Closed In: 3 Weeks

Borrower brought cash to closing to settle the HUD on this purchase of a fix-and-flip property, borrower is experienced with selling homes in this area and hopes to get it sold quickly.

4,934 SQ FT Single Family Residence – Cash Out Refi Loan

Single Family Residence

Property Location: Granger, IN

Property Value: $595,000

Loan Amount: $40,000

Interest Rate: 12%

Term: 18 Months

Closed In: 2 Weeks

Borrower pledged this free and clear property to get funds needed to complete rehab and flip the property.

6,610 Total SQ FT Single Family Residences – Refinance Loan

Cash Out Refinance

SFR

Property Location(s): Frankfort, IL and Country Club Hills, IL

Property Combined Value: $626,000

Loan Amount: $85,000

Interest Rate: 13%

Term: 24 Months

Broker Commission: 5 Points

Borrower pledged free and clear rental properties to obtain funds to pay back taxes and for other debt consolidation.

981 SQ FT Single Family Home – Purchase Loan

Purchase

Property Location: Bellwood, IL

Property Value: $165,000

Loan Amount: $80,000

Interest Rate: 12%

Term: 6 Months

Closed In: 2 weeks

Repeat Borrower  brought $39,000 to closing to put towards the purchase of this single family residence. Plans to flip the property and buy more rental properties once this one sells.

4,105 SQ FT Single Family Residence – Cash-Out Refinance

Construction

Property Location: Galena, IL

Property Value: $338,500

Loan Amount: $85,500

Interest Rate: 13%

Term: 24 Months

Broker Commission: 4 Points

Borrower pledged free and clear property to get funds to complete necessary rehab, plans to put the house on the market once rehab is complete.

9,084 SQ FT Industrial Building Purchase

Purchase

Property Location: Austell, GA

Property Value: $330,000

Loan Amount: $160,000

Interest Rate: 12.5%

Term: 24 Months

Broker Commission: 3 Points

Borrower brought cash to closing to settle the HUD on the purchase of this industrial commercial building and T&M’s loan funded the difference.

2,019 SQ FT Single Family Residence – Cash-Out Refinance Loan

Cash-Out Refinance

Property Location: Culloden, WV

Property Value: $138,000

Loan Amount: $60,000

Interest Rate: 12%

Term: 24 Months

Closed In: 3 Weeks

Borrower pledged free and clear real estate to get funds for debt consolidation.