Monthly Archives: May 2016

1,354 SQ FT – SFR Cash Out Refi

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Property Location: Utica, OH

Property Value: $130,000 (after-repair)

Loan Amount: $42,000

Loan Term: 12 Months

Interest Rate: 12%

Broker Comission: 3 Points

Borrower needed funds to complete the rehab on this fix-n-flip. He plans to sell it and pay us off.

5,298 SQ FT – Multi-Purpose Building Cash-Out

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Property Location: Cleveland, OH

Property Combined Value: $105,000

Loan Amount: $30,000

Loan Term: 24 Months

Interest Rate: 13%

Broker Comission: $1,000

Borrower pledged two free and clear buildings to obtain funds for rehab on one of the buildings.

4,796 SQ FT Mixed-Use Building Refinance

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Property Location: Plainwell, MI

Property Value: $215,000

Loan Amount: $70,000

Loan Term: 24 Months

Interest Rate: 13%

Broker Commission: 3 Points

Borrower pledged free and clear property to obtain cash out for updates to the property and credit repair purposes.

1,110 SQ FT Single Family Home Purchase

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Property Location: Greenville, SC

Property Value: $60,000

Loan Amount: $23,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 2 Weeks

Borrower needed funds to complete the purchase of this single family home and do a fix-n-flip to pay us off.