Private Money Cash-Out Loan for Single-Family Home in Atlanta, Georgia

Funded by RCN Capital

$190,000

Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date

01/10/2019

Property Type
Single Family Residence
Property City

Atlanta

Property State

GA

Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value

$350,000

Loan-to-Value

55%

Deal Summary

RCN Capital, a national direct private lender, funded a $190,000 1st lien position equity cash-out loan secured by a single-family home in Atlanta, Georgia. A new investor purchased the subject property with cash in 2016 and completely renovated it. The Borrower listed the property for sale and was looking to pull cash out of the property while it is listed. The property has an as-is value of $350k and RCN was able to make a loan for 55% of the current value.

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans