Monthly Archives: July 2016

3,492 SQ FT – Multi-Property – Purchase Loan

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Property Location(s): Burgaw, NC & Jacksonville, NC

Properties Combined Value: $185,000

Loan Amount: $90,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 4 Weeks

Borrower needed funds to complete the purchase, he pledged a free-and-clear property as collateral.

1,442 SQ FT – SFR – Cash-Out Refinance

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Property Location: Cherryville, NC

Property Value: $50,000

Loan Amount: $25,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 2 Weeks

Borrower needed funds for his business ventures and pledged this free and clear rental property to obtain funds.

3,536 SQ FT – Multi-Family Unit – Cash-Out Refinance

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Property Location: East St. Louis, IL

Property Value: $50,000

Loan Amount: $20,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 3 Weeks

Repeat borrower needed funds to purchase another rental property, she pledged this free and clear multi-unit building as collateral.

3,600 SQ FT – Multi-Unit Commercial Building – Cash-Out Refinance

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Property Location: Inkster, MI

Property Value: $340,000

Loan Amount: $50,000

Loan Term: 24 Months

Interest Rate: 13%

Broker Commission: 4 Points

The borrower needed funds for back taxes, he pledged this free and clear multi-unit commercial building as collateral to obtain said funds.

3,460 SQ FT (combined) – Purchase Loan

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Property Location: Indianola, MS

Properties Combined Value: $180,000

Loan Amount: $50,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 2 Weeks

Borrower needed funds to purchase a rental property he hopes to fix & flip, he pledged a free-and-clear commercial property as collateral.