• Loan Amount * $300,000
  • Rate * 9.50% 
  • ReProp’s Value * $590,000
  • Term * 6 Months, Interest Only
  • Lien Position * First

Our repeat borrower was on a time crunch to get permits pulled before a new permit fee was enacted. He owned a newly constructed house with a recently issued C of O that we were able to use as collateral for the cash out refinance. We will be paid off when he refinances with his usual, slower, bank financing. 

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