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Deal Details
Private Loan Type
Residential Long-Term Rental
Approx. Funding Date
01/31/2022
Property Type
Property City
Florissant
Property State
MO
Loan Term (months)
360
Lien Type
1st Mortgage
Term
30 years
Rate Type
Fixed
Interest Rate
3.75%
Deal Summary
The new craze in the hard money lending industry is the 30-year DSCR loan. In reality, this is not a new loan type and we have been funding them since 2019. S&L Capital, a California-based lending firm, recently funded a refinance for a repeat client of ours in Florissant, Missouri. Over the last 18 months, the borrower truly reaped the benefit of property appreciation in their market while already having a strong cash-flowing property. We put them on a $118,500 30-year fixed-rate loan, at 3.75% and improved their monthly cash flow by 24.60%. The APR on this loan was 5.52%. The Company has invested a lot of time over the years to bring a truly streamlined submission and funding process for its clients. This DSCR loan was funded in January 2022.
Funded By
S&L Capital Group
Brea, CA