Address: Delray Beach, FL 33484
ARV: $300,000 (As-is)
Loan Amount: $185,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 12%
LTV 60%
Borrower Profile: Investor
Loan Purpose: Cash out Refinance
June 06, 2023
An individual made an investment in a property and secured a loan of $120,000 from a local hard money lender. After financing the property’s renovation with their own funds, they approached us for refinancing. We provided more reasonable fees compared to other hard money lenders in the vicinity, and the client chose to work with us. We efficiently arranged an appraisal that valued the property at$300,000 and granted the client $70,000 in cash for another investment while waiting for the property to sell. Our team processed their loan application proficiently and closed it in just eight days.
