Single Family Residence
Residential Long-Term Rental12/08/2020
In December 2020, RCN Capital funded a $268K private mortgage secured by a single-family home in Austin, TX. The Borrower had already held the property as a rental. The property was in good condition, leased and generating income of $1,790/month. RCN was able to provide a 30-year loan term with a 10-year interest-only period. The LTV was 75% of the as-is value. The interest rate was 4.8%. The Borrower intends to continue to hold the property long-term.