Address: Kissimmee FL 34741
ARV: $551,100 (BPO Value)
Loan Amount: $265,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 12%
LTV 48%
Borrower Profile: Landlord
Work Description: Update Property
Loan Purpose: Cash Out
March 04, 2024
This landlord has owned the property for over 30 years and needed some cash to make repairs and updates in order to increase the rental income. Unable to secure traditional financing, she reached out to us and we were able to provide her with the cash she needed right away based on the BPO value. We offered her a $265,000 loan at a 12% interest-only rate with a 6-month pre-payment penalty. After the renovations, the rental income is expected to increase, and she plans to pay off the loan in full at the end of the 12-month term.
