Address: Micco, FL 32976
ARV: $425,000 (As-is)
Purchase Price: $413,000
Loan Amount: $200,000
Loan Structure: 12 Months Interest Only
Interest Rate: 12%
LTV 49%
Borrower Profile: Investor
Work Description: Fixer-Upper
Loan Purpose: Purchase
June 17, 2024
We recently helped a buyer purchase an investment property from his neighbors who were looking to sell their home. The buyer plans to fix this property & then rent it out. His exit plan is to refinance into a DSCR loan in 1 year. The investor put 50% down, we offered a loan amount of $200,000, which is a 49% LTV – for a term of 12 months with an interest only interest rate of 12% and a pre-payment-penalty for six months. This loan was funded in June of 2024 & only took 10 days to close!
