Monthly Archives: December 2015

1,368 SQ FT – Single Family Residence Cash-Out Refi

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Property Location: Augusta, ME

Property Value: $70,000

Loan Amount: $35,000

Interest Rate: 12%

Term: 24 Months

Closed in 2 Weeks

Repeat borrower needed funds for minor rehab on the property and plans to pay us off as soon as that work is completed.

1,704 SQ FT – Cash-Out Refinance

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Property Location: Kansas City, KS

Property Value: $69,000

Loan Amount: $35,000

Interest Rate: 12%

Term: 24 Months

Closed In: 2 Weeks

Repeat borrower needed funds for minor rehab on the property, plans to turn the property into a rental unit.

1,200 SQ FT – Cash Out Refinance

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Property Locations: Country Club Hills, IL

Property Combined Value: $85,000

Loan Amount: $35,000

Interest Rate: 12%

Term: 24 Months

Closed In: 2 Weeks

Borrower needed funds for debt-consolidation purposes and pledged two free and clear properties to do so.

4,126 TOTAL SQ FT – Cash-Out Refinance 2 Properties

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Property Location: Charleston, WV

Property Value: $426,000

Loan Amount: $95,000

Interest Rate: 12%

Term: 24 Months

Closed In: 2 Weeks

Repeat borrower pledged two free and clear properties in order to obtain funds to complete renovation on one of the properties.

 

4,028 SQ FT Commercial Building – Refinance

Cash-Out Refi

Property Location: Detroit, MI

Property Value: $120,000

Loan Amount: $45,000

Interest Rate: 12%

Term: 24 Months

Closed In: 2 Weeks

Borrower pledged free and clear commercial real estate to obtain funds for debt consolidation purposes.

1,296 SQ FT – SFR Cash Out Refinance

Cash-Out Refi

Property Location: St. Joseph, MO

Property Value: $55,000

Loan Amount: $20,000

Interest Rate: 12%

Term: 24 Months

Closed In: 3 Weeks

Borrower pledged free and clear property to obtain funds for minor improvements on the property. She plans to refinance out of our loan once the work is completed.