Address: Lake Mary, FL 32746
ARV: $675,000 (As-is)
Loan Amount: $270,000.00
Loan Structure: 24 Months Interest Only
Interest Rate: 13%
LTV 40%
Borrower Profile: Experienced Investor
Work Description: Business Purpose
Loan Purpose: Cash Out
June 17, 2024
This local Canadian entrepreneur / investor bought this home cash for $690,000 in 11/2023. He recently needed cash out for business capital & we were able to facilitate him with a $270,000 loan at 13% Interest Only for 24 months with a 6 month pre-payment-penalty. He plans to pay this loan back in full w/ the capital gains from his business over the next 2 years. This loan funded 6/17/2024, we were able to close him in just 9 days!
