Single-Family Portfolio Loan in Cleveland, OH

Funded by i Fund Cities

291,375

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

20220415

Property Type
Single Family Residence
Property City

Cleveland

Property State

OH

Deal Summary

HIGHLIGHTS: $291K: SF Portfolio: Location: Cleveland, OH; Loan Amount: $291,375; iFC Loan Product: 30-year fixed DSCR; Loan Closing Date: 4/15/2022; Monthly Rental: $5,100; LTV: 70%; Length of Loan: 30 years: OVERVIEW: This customer in Cleveland, OH came to us by way of a referral. The customer had been trying to work with their local bank on refinancing several rental properties, but they were not getting a workable solution from them for the transactions. The client was looking for long-term loans that did not carry a balloon payment. Andrew, one of iFC’s highly-industrious loan officers, was able to offer the client 30-year cash-out refinancing without a balloon payment. KEY BENEFIT TO BORROWER: This loan gave the client permanent financing for an important part of their single-family portfolio, without the client having to worry about coming up with additional funds down the road for the balloon payment. CUSTOMER FEEDBACK: The customer was grateful for the refinancing arrangement, which allowed the client to open a new door. He explains, “This cash out refinance allows me to invest in a 15-townhome rehab!”

Funded By

i Fund Cities

Great F#*%ing Loans, Built By Investors For Investors

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