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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
01/22/2021
Property Type
Property City
Cypress
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Borrower's Plan
Long-Term Rental
Exit Strategy
Refinance
Deal Summary
S&L Capital Group provided cash-out refinance on this SFR in Cypress, CA in order to assist in the settling of an estate. This transaction, though with substantial protective equity, had its challenges in navigating potential hurdles with Title. This loan checked all the food groups of a higher-risk loan:
– Cash-out refinance.
– Loan to a trust after a recent death.
– Property owned free and clear.
Our Borrower was referred to S&L Capital Group seeking a cash-out refinance to the Trust in order for them to update the property and settle their parent’s estate. Once settled, their plan was to refinance our loan into permanent financing and hold the property long-term as a rental.
The team worked closely with the Borrower, his Estate Attorney, Escrow, and Title in order to make sure all parties were comfortable with the transaction.
S&L Capital Group provided a 12-month, cash-out refinance, with no prepayment penalty or interest guaranty. This SFR equity cash-out loan was funded in January 2021.
Funded By
S&L Capital Group
Brea, CA