- Loan Amount * $198,000
- Rate * 8.99%
- Appraised Value * $330,000
- Term * 24 months, IO
- Lien Position * First
Our Borrower was in contract to purchase a vacation rental. The Borrower did not have time for conventional financing. We were able to make the Borrower a 24-month loan allowing sufficient time to hire a management company and refinance conventionally.
