Month: January 2016

1,024 SQ FT – Cash Out Refinance

Property Value: $77,000 Loan Amount: $25,000 Interest Rate: 12% Term: 24 Months Closed In: 3 Weeks Broker Fee: 3 Points Borrower pledged free and clear property to obtain funds for debt consolidation purposes.

1,713 SQ FT Single Family Residence – Purchase

Property Location: Martinsville, VA Property Value: $66,000 Loan Amount: $35,000 Term: 24 Months Interest Rate: 12% Broker Commission: $2,000 Borrower brought funds to close on this purchase of a single family residence they plan to rent out for additional income.  

936 SQ FT SFR – Cash Out Refinance

Property Location: Monroe, NY Property Value: $153,000 Loan Amount: $36,000 Term: 24 Months Interest Rate: 12% Borrower needed funds to finish a complete rehab on the house, she plans to sell the property in the Spring and pay us off.

3,391 SQ FT – Cash-Out Refinance 2 SFR’s

Property’s Location: Columbus, OH Property’s Combined Value: $96,000 Loan Amount: $40,000 Interest Rate: 12% Term: 24 Months Broker Fee: 4 Points Closed In: 3 Weeks Borrower pledged two free and clear rental properties to obtain funds needed to complete rehab on one of them.