Purchase

2,900 SQ FT – Commercial Purchase Loan

Property Location: Huntsville, AL Property Value: $175,000 Loan Amount: $95,000 Loan Term: 24 Months Interest Rate: 13% Broker Commission: 4% of Loan Amount This borrower needed help completing the purchase of a new church, borrower plans to do minor updates/improvements on the property before paying us off.

2858 SQ FT Commercial Purchase with Rental Unit

Property Location: Cromwell, CT Property Value: $410,000 Loan Amount: $290,000 Loan Term: 18 Months Interest Rate: 13% Closed In: 2 Weeks This borrower needed help with money to complete the purchase of this commercial shop and rental dwelling lot. They plan to refinance conventionally to pay us off.

1,500 SQ FT – Purchase Loan

Property Location: Swartz Creek, MI Property After Repair Value: $115,000 Loan Amount: $75,000 Loan Term: 24 Months Interest Rate: 12% Closed In: 3 Weeks This repeat borrower needed cash to complete the purchase of a property they plan to fix and flip.

800 SQ FT – Single Family Home Purchase

Property Location: Crete, NE Property Value: $40,000 Loan Amount: $20,000 Loan Term: 24 Months Interest Rate: 12% Closed In: 3 Weeks This borrower wanted to buy the property for a family member as a rental, he brought cash to closing to settle the difference.

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.

2,186 SQ FT – Rental Dwelling Purchase

Property Location: Collettsville, NC Property Combined Value: $210,000 Loan Amount: $90,000 Interest Rate: 12% Term: 24 Months Closed In: 3 Weeks Borrower needed funds for the purchase of a rental dwelling down the street from his current rental, he pledged free and clear real estate to obtain funds.

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.

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.  

1,456 SQ FT Single-Family-Residence – Purchase

Property Location: Milton, DE Property Value: $215,000 Loan Amount: $175,000 Loan Term: 24 Months Interest Rate: 12% Closed In: 3 Weeks Repeat borrower needed funds to complete the purchase of this property they plan to fix-n-flip. The property needs very minor renovations, borrower brought cash to closing as part of their “skin in the deal“