Recent Fundings - Rental

Real Investments. Real Results.

Duplex

Morgantown, WV

Loan Amount / $114,800
Rate / 8.625%

Purpose / Cash-Out Refinance
LTV / 70.0%

$114,800 West Virginia DSCR Rental Loan for a Cash-Out Refinance of a rental property in Morgantown. With renovations to the units’ kitchens and bathrooms, this property is in good condition and maintains an effective age of 15 years despite being built in 1911.

Multifamily (6-Unit)

Springfield, IL

Loan Amount / $243,700
Rate / 9.750%

Purpose / Acquisition
LTV / 75.0%

$243,700 Illinois DSCR Rental Loan for an Acquisition of a rental property in Springfield. This property is within walking distance to the Illinois State Museum and Illinois State Capitol Building, which is in the safest neighborhood in Downtown Springfield. Upon acquisition, the property will be utilized as a long-term rental property.

PUD

Moab, UT

Loan Amount / $532,000
Rate / 8.625%

Purpose / Cash-Out Refinance
LTV / 70.0%

$532,000 Utah DSCR Rental Loan for a Cash-Out Refinance of a rental property in Moab. Features of this property include but are not limited to a spacious uncovered patio, a two-car garage, a shared pool, and two fireplaces. The area is a tourist destination popular partially due to its proximity to two national parks and the Colorado River.

Duplex

Norfolk, VA

Loan Amount / $172,550
Rate / 9.875%

Purpose / Cash-Out Refinance
LTV / 70.0%

$172,550 Virginia DSCR Rental Loan for a Cash-Out Refinance of a rental property in Norfolk. The duplex has two units each featuring two bedrooms and one bathroom. Located approximately 3.5 miles from downtown Norfolk, this property has easy access to major employment, public transportation, entertainment, and restaurants.

Single-Family Residence

Fairport Harbor, OH

Loan Amount / $192,000
Rate / 8.500%

Purpose / Rate-Term Refinance
LTV / 80.0%

$192,000 Ohio DSCR Rental Loan for a Rate-Term Refinance of a rental property in Fairport Harbor. Located in a beautiful harbor town located on Lake Erie, this property features an entirely remodeled kitchen, all new HVAC systems, and much more.

Single-Family Residence

Wichita, KS

Loan Amount / $75,000
Rate / 10.250%

Purpose / Acquisition
LTV / 75.0%

$75,000 Kansas DSCR Rental Loan for an Acquisition of a rental property in Wichita. Although located in a quaint neighborhood, this property also reaps the benefits of a unique Wichita economic hub; one that is dominated by aerospace manufacturing, agriculture, and small businesses. Upon its acquisition, the property will be occupied by a long-term lease.

Duplex

Montgomery, AL

Loan Amount / $75,000
Rate / 8.875%

Purpose / Acquisition
LTV / 75.0%

$75,000 Alabama DSCR Rental Loan for an Acquisition of a rental property in Montgomery. Featuring two units of varying size, this duplex was built in 1925 and has an effective age of 30 years due to its adequate maintenance. The property will be utilized as a long-term rental upon acquisition.

Triplex

New Haven, CT

Loan Amount / $330,000
Rate / 6.750%

Purpose / Cash-Out Refinance
LTV / 55.0%

$330,000 Connecticut DSCR Rental Loan for a Cash-Out Refinance of a rental property in New Haven. Recent renovations of this three-family colonial home include a new roof and hot water heaters as well as significant updates to the kitchens, bathrooms, electrical, and plumbing.

Quadruplex

Indianapolis, IN

Loan Amount / $187,500
Rate / 8.500%

Purpose / Acquisition
LTV / 75.0%

$187,500 Indiana DSCR Rental Loan for an Acquisition of a rental property in Indianapolis. This quadruplex is located in a commuter-friendly city, well-known as a center of several major interstates. It will continue its current use as a long-term rental upon acquisition.

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