Address: Key West, FL 33040
ARV: $2,500,000 (As-is)
Loan Amount: $1,000,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 13%
LTV: 40%
Borrower Profile: Experienced Investor
Loan Purpose: Cash Out
December 08, 2023
We recently helped a borrower by facilitating a first-lien position equity cash-out loan of $1,000,000 for their single-family vacation property in Key West, Florida. The property was valued at $2,500,000, resulting in a 40% loan-to-value ratio. The borrower required funds to inject into their business for a new opportunity and we were able to assist them with the necessary funds within seven days. The loan term was 12 months with an interest rate of 13%. This equity cash-out loan was funded in December of 2023.
