Month: February 2016

803 SQ FT – Cash-Out Refinance

Property Location: Thomasville, NC Property Value: $65,000 Loan Amount: $30,000 Interest Rate: 12% Term: 24 Months Closed In: 1 Week Borrower pledged free and clear property to obtain funds for debt consolidation purposes.

976 SQ FT – Single Family Residence Purchase

Property Location: Plainsfield, CT Property Value: $139,000 Loan Amount: $66,000 Interest Rate: 12% Term: 24 Months Closed In: 3 Weeks Repeat borrower is an experienced house flipper and brought cash to the deal to settle the HUD. Borrower plans to fix-and-flip the property and pay us off.

2,000 SQ FT – Cash Out Refinance

Property Location: Milton, DE Property Value: $180,000 Loan Amount: $50,000 Interest Rate: 12% Term: 24 Months Closed In: 3 Weeks Borrower is an experienced house flipper who needed funds to complete rehab on the property.