Hard Money Loan for SFR Fix & Flip Project in Sedro-Woolley, Washington

Funded by Arch Loans

$89,000

Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date

07/03/2019

Property Type
Single Family Residence
Property City

Sedro-Woolley

Property State

WA

Loan Term (months)

6

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

100%

Renovation Budget

$45,000

After-Repair Value

$215,000

Deal Highlights

We funded in 5 business days.
NO prepayment penalty.

Deal Summary

ARCH Loans, a private lender, funded an $89,000 1st lien position fix and flip loan for a single-family home in Sedro-Woolley, WA. Sedro-Woolley is a small rural city in Skagit County approximately 60 miles north of Seattle. The Borrower is an experienced flipper who found this opportunity and set a goal for us to fund his project in 5 business days. ARCH was able to meet that goal and provided the Borrower with 100% of his purchase cost within one week. The renovation budget was $45,000 and the after-repair value was estimated at $215,000. The loan term was set at 6 months, but the structure of the loan allows the Borrower the flexibility to prepay with no penalty if the project is completed ahead of time or extend the loan for a small fee should he need it. This SFR hard money loan was funded in July 2019.

Funded By

Arch Loans

Low and High Leverage Options, up to 90% of purchase price for fix & flip