Address: West Palm Beach, FL 33418
ARV: $5,000,000 (As-is)
Loan Amount: $501,000.00
Loan Structure: 24 Months Interest Only
Interest Rate: 15%
CLTV: 42%
Borrower Profile: Experienced Investor
Loan Purpose: Cash Out
October 03, 2023
We recently facilitated a second-lien position equity cash-out loan of $501,000 for a single-family vacation property in West Palm Beach, Florida. The property was valued at $5,000,000, resulting in a 42% combined loan-to-value ratio. The borrower needed a capital injection into their business for a new opportunity, and we were able to help them by providing the necessary funds within seven days. The loan term was 24 months, and the interest rate was 15%. This equity cash-out loan was funded in December of 2023.
