- Loan Amount * $380,000
- Collateral Valuation: * $825,000
- Term * 24 months, First Lien, IO
- Rate * 8.99%
A versatile property close enough to the university to be long term rentals for students, yet rural enough to be a short term weekend get-away rental. The borrower owned the property free and clear and needed capital for additional real estate purchases. They will exit our loan with proceeds from other real estate sales or conventional financing.
