- Loan Amount: * $950,000.00
- Rate: * 7.49%
- Appraisal Value: * $1,825,000
- Term: * 12 months, IO
- Lien Position: * First
Our Borrower is self-employed and needed quick capital for business expansion. This rental home was owned free and clear and we were able to provide the cash out and required escrow to fund the Borrowers business account directly. Our loan will be paid off with a conventional refinance.