Multi-Unit properties are great income producers. This refinance had a great income stream and needed a loan to bridge the gap for long term financing to become available. Although this deal didn’t need to pull cash out for any upgrades, Capital Fund can help investors pull cash out of their existing loan if enough equity or improvements have been made to the property.
The terms given on this specific loan are as follows:
Loan Type: Multi-Unit Re-Fi
Loan Amount: $35,000
Current Value: $55,000
Term: 24-months
Interest Rate: 13.9% I/O
Loan Type: Re-Fi