• Loan Amount * $175,000
  • Rate * 8.75%
  • Appraised Value * $520,000
  • Term * 60 months, IO
  • Lien Position * First

Our Borrower was in contract to purchase an investment property. The Borrower owned a multi-family unit free and clear and wanted to use it as additional collateral for the loan. We were able to make the Borrower a loan secured by both units for a 60-month interest only term with a partial release agreement.