Address: Apoka, FL 32712
ARV: $430,000 (As-is)
Loan Amount: $258,000.00
Loan Structure: 24 Months Interest Only
Interest Rate: 12%
LTV 60%
Borrower Profile: Real Estate Investor
Work Description: Update
Loan Purpose: Purchase
December 06, 2024
The borrower approached us for pre-approval before searching for an investment property. They identified their desired home: a 3-bedroom, 2.5-bath, 2100 square foot residence with a garage. Initially listed at $445,000, we successfully negotiated the sales price down to $430,000! Additionally, we allowed the seller to provide a $16,000 credit for maintenance instead of needing it completed prior to closing. We expedited the closing with a loan amount of $258,000 at a 12% interest-only rate for 24 months that included a 6-month prepayment penalty. This loan was funded in December 2024.
