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.