Property Location: Natchez, MS Property Value: $107,000 Loan Amount: $35,000 Interest Rate: 13% Term: 24 Months Closed In: 3 Weeks Borrower pledged free and clear rental property to obtain funds for another investment.
Month: April 2016
Property Location: Ypsilanti, MI Properties Total Combined Value: $153,000 Loan Amount: $36,000 Interest Rate: 12% Term: 24 Months Borrower pledged 4 free and clear properties to obtain funds to purchase another rental property.
Property Location: Paw Paw, MI Property Value: $97,000 Loan Amount: $65,000 Interest Rate: 12% Term: 24 Months Closed In: 2 Weeks Broker Fee: 4 Points Borrower brought cash to closing on this purchase transaction, T&M funded the difference.
Property Location: Waycross, GA Property Combined Value: $101,000 Loan Amount: $50,000 Interest Rate: 12% Term: 24 Months Closed In: 3 Weeks Borrower needed cash-out for another purchase and pledged three free and clear rental units to do so.