- Loan Amount: * $292,500.00
- Rate: * 9.00%
- Appraisal Value: * $ 585,000
- Term: * 18 months, IO
- Lien Position: First
Our borrowers had been in escrow for a while trying for conventional financing. Time was running out and they needed a bridge loan to close the purchase and rehab the property. The Borrowers will either sell for a profit and lease the building and refinance conventionally.