- Loan Amount: $600,000
- Rate: 6.99% to 7.99% step rate
- Appraisal Value: $1,000,000
- Term: 24 months
- Lien Position: First
Borrower’s LLC had an option to purchase the property. Upon deciding to exercise their option, we were contacted to provide financing.This property will be remodeled and held for investment or resale. After acceptance of loan terms, we moved quickly to docs and were able to fund this transaction within 10 days of the offer.