Month: May 2016

1,354 SQ FT – SFR Cash Out Refi

Property Location: Utica, OH Property Value: $130,000 (after-repair) Loan Amount: $42,000 Loan Term: 12 Months Interest Rate: 12% Broker Comission: 3 Points Borrower needed funds to complete the rehab on this fix-n-flip. He plans to sell it and pay us off.

4,796 SQ FT Mixed-Use Building Refinance

Property Location: Plainwell, MI Property Value: $215,000 Loan Amount: $70,000 Loan Term: 24 Months Interest Rate: 13% Broker Commission: 3 Points Borrower pledged free and clear property to obtain cash out for updates to the property and credit repair purposes.

1,110 SQ FT Single Family Home Purchase

Property Location: Greenville, SC Property Value: $60,000 Loan Amount: $23,000 Loan Term: 24 Months Interest Rate: 12% Closed In: 2 Weeks Borrower needed funds to complete the purchase of this single family home and do a fix-n-flip to pay us off.