Month: January 2017

4,976 SQ FT – Commercial Property Refinance Loan

Property Location: Standish, MI Property Value: $250,000 Loan Amount: $80,000 Loan Term: 24 Months Interest Rate: 12% Broker Commission: 3 Points This borrower needed funds to pay off his current first position lender and pay some taxes, he pledged this free and clear commercial strip-mall as collateral.

1,188 SQ FT – Commercial Refinance

Property Location: Evansville, IN Property Value: $50,000 Loan Amount: $23,000 Loan Term: 12 Months Interest Rate: 12% This repeat borrower needed funds to purchase another property to flip, he pledged this free and clear property as collateral.

2,500 SQ FT – Cash-Out Refinance

Property Location: Ozawkie, KS Property Value (After Completion): $160,000 Loan Amount: $75,000 Loan Term: 18 Months Interest Rate: 12% Broker Commission: 3 Points This borrower needed funds to complete the remaining work on this new build. They plan to flip the house once it’s completed and pay us off.

New Construction SFR – Purchase/Construction Loan

Property Location: Aberdeen, MS Property Value: $110,000 Loan Amount: $40,000 Loan Term: 12 Months Interest Rate: 12% Broker Commission: 5 Points The borrower needed funds to complete the purchase of this piece of land to build a new SFR, he plans to sell the property once it’s completed and pay us off.

3,527 SQ FT – Cash-Out Refinance

Property Location: Jacksonville, FL Property Value: $220,000 Loan Amount: $90,000 Loan Term: 12 months Interest Rate: 12% Broker Commission: 3 Points This borrower needed cash for other investment property purchases, he pledged this free and clear property to obtain funds.

1,514 SQ FT – Cash-Out Refinance

Property Location: Kingston, TN Property Value: $85,000 Loan Amount: $35,000 Loan Term: 18 Months Interest Rate: 12% Broker Commission: 3 Points Borrower needed funds to complete construction on the property to get it ready for sale. Borrower plans to sell the property and pay us off.