Address: Orlando, FL 32817
ARV: $417,500 (As-is)
Loan Amount: $235,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 12%
LTV 56%
Borrower Profile: Landlord
Work Description: Current Note Expired
Loan Purpose: Rate & Term Refi
April, 1, 2024
We recently assisted a real estate investor in Orlando, Florida who was facing identity theft and a low credit score. He needed to refinance his current mortgage, which was due to expire in April 2024. We provided him with a $235,000 loan for a term of 12 months at an interest-only rate of 12%. The loan came with a six-month pre-payment penalty but did not require an appraisal. Additionally, we helped him clear the open permits that were blocking his title, which could have led to a mortgage default. The investor plans to work on improving his credit score and refinance through DSCR in the coming year.
