Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
07/03/2019
Property Type
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 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.