We funded a 160,000 2nd mortgage behind the existing 1st position Bank loan in order to keep the borrower's costs and overall rates down. The funds are being used to complete a major remodel.
Commercial loan on a local Restaurant - funded in 2 weeks with no appraisal!
$120,000 Loan @ 80% LTV (15.25% APR)
Plus $9k Construction Funds
We funded 80% of Costs & 600k+ loan amount (15.9% APR)
Investment Purchase w/ Major Rehab Needed
244,700 @ 13% (16% APR)
3 yr loan & 70% LTV
750,000 loan amount, 75% LTV