Purchase Bridge Loan for Waterfront SFR Investment in Tavernier, Florida

Funded by Stormfield Capital, LLC

$765,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

12/21/2021

Property Type
Single Family Residence
Property City

Tavernier

Property State

FL

Lien Type

1st Mortgage

Payment Type

Interest Only

Exit Strategy

Refinance

Deal Highlights

Borrower’s relationship bank told him that it would take them 120 days to close the loan.
Stormfield was able to fund this purchase-money loan within 7 business days from application.
We did not require an appraisal. The loan was custom structured for the Borrower’s unique scenario.
The loan includes a three-month interest reserve and there is no prepayment penalty.

Deal Summary

Stormfield Capital, a direct private lending firm, funded a $765,000 bridge loan for the acquisition of a waterfront single-family investment property in Tavernier, FL. Tavernier is located on Key Largo, in the upper Florida Keys. The investor was left scrambling after his relationship bank told him that it would take them 120 days to close his loan. Stormfield was able to fund this purchase-money loan within 7 business days from application. We did not require an appraisal. The loan was custom structured for the Borrower’s unique scenario. The loan includes a three-month interest reserve and there is no prepayment penalty. The Borrower’s strategy is to complete minor cosmetic improvements to the property and then refinance with a conventional bank loan. This residential bridge loan was funded in December 2020.

Funded By

Stormfield Capital, LLC

Direct Balance-Sheet Lender for Investment Properties