1,277 SQ FT SFR Cash-Out Refinance

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Property Location: St. John, Virgin Islands

Property Value (As-is): $475,000

Loan Amount: $65,000

Loan Term: 24 Months

Interest Rate: 12%

Broker Commission: 5 Points

Closed In: 2 Weeks

Borrower pledged his free and clear property to obtain funds to do some minor renovations, after the renovations the property is estimated to be worth $525,000.