- Loan Amount * $250,000
- Collateral Valuation: * $500,000
- Term * 6 months, First Lien, IO
- Rate * 9.00%
The borrowers are building a home in another state closer to family. They are selling their current home to finance the construction of their new residence. They had a sale lined up until the buyer backed out. With bills coming due, the borrowers needed capital to keep their mission moving forward. ReProp Financial offered to finance their efforts while allowing them to keep their home on the market for sale, which banks would not. They will pay off the loan with the proceeds from the sale of the subject property.