Monthly Archives: February 2017

800 SQ FT – Single Family Home Purchase

Property Location: Crete, NE

Property Value: $40,000

Loan Amount: $20,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 3 Weeks

This borrower wanted to buy the property for a family member as a rental, he brought cash to closing to settle the difference.

1,655 SQ FT – Cash-Out Refinance

Property Location: Columbus, OH

Property Value: $145,000

Loan Amount: $50,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 3 Weeks

This borrower needed the funds to complete minor rehab on the property, then the borrower plans to try and sell the property to pay us off.

2,804 SQ FT – Single Family Home Refinance

Property Location: Saginaw, MI

Property Value: $130,000

Loan Amount: $65,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 2 Weeks

This borrower needed cash to complete some minor work on the property before listing it for sale, the property was free and clear.

3,200 SQ FT Multi-Unit Purchase

Property Locations: Auburn & Norway, Maine

Combined Property Value: $122,000

Loan Amount: $78,000

Loan Term: 24 Months

Interest Rate: 12%

Closed In: 2 Weeks

This client came to us for funds to complete the purchase of this Multi-Unit and pledged his free and clear SFR as collateral. He plans to sell both properties once renovations are completed, and pay us off.