Month: July 2016

3,492 SQ FT – Multi-Property – Purchase Loan

Property Location(s): Burgaw, NC & Jacksonville, NC Properties Combined Value: $185,000 Loan Amount: $90,000 Loan Term: 24 Months Interest Rate: 12% Closed In: 4 Weeks Borrower needed funds to complete the purchase, he pledged a free-and-clear property as collateral.

1,442 SQ FT – SFR – Cash-Out Refinance

Property Location: Cherryville, NC Property Value: $50,000 Loan Amount: $25,000 Loan Term: 24 Months Interest Rate: 12% Closed In: 2 Weeks Borrower needed funds for his business ventures and pledged this free and clear rental property to obtain funds.

3,460 SQ FT (combined) – Purchase Loan

Property Location: Indianola, MS Properties Combined Value: $180,000 Loan Amount: $50,000 Loan Term: 24 Months Interest Rate: 12% Closed In: 2 Weeks Borrower needed funds to purchase a rental property he hopes to fix & flip, he pledged a free-and-clear commercial property as collateral.