Private Money Loan for SFR Fix & Flip Project in Clovis, California

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

11/07/2019

Property Type

Single Family Residence

Property City

Clovis

Property State

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

100%

Renovation Budget Funded

100%

Exit Strategy

Sale

Borrower Credit Rating

Excellent

Deal Highlights

100% of the renovation budget funded.

100% of the purchase price funded.

This was seamless funding aided by the Borrowers’ Gold Status.

Gold Status: provides a line of credit that allows for 100% of the purchase and future rehab costs.

Deal Summary

Arch Loans, a private lender, funded a $340,000 1st lien position private money loan for the acquisition of a single-family residence in Clovis, CA. The buyer will invest 50,000 to resell for 490,000. This property is structurally sound, but it needs a complete gut and rehab. This was seamless funding aided by the Borrowers’ Gold Status. Gold Status provides the Borrower with a line of credit that allows for 100% of the purchase and future rehab costs. This is the 8th loan funded with this particular Borrower. This SFR private money loan was funded in November 2019.