Hard Money Equity Cash Out Loan for Vacant SFR in Rural Lane County, Oregon

Funded by Blue-inc. Capital

$200,000

Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date

02/01/2023

Property Type
Residential Land
Property City

Eugene

Property State

OR

Loan Term (months)

12

Lien Type

1st Trust Deed

Payment Type

Interest Only

Property Value

$500,000

Loan-to-Value

40%

Renovation Budget

$75,000

Renovation Budget Funded

100%

Borrower's Contribution to Budget

0%

After-Repair Value

$600,000

Loan-to-After-Repair Value

33.33%

Renovation Project Scope

Light Rehab

Location Type

Rural

Occupancy at Closing

Vacant

Number of Units

1

Building Square Footage

1,200

Deal Highlights

We were able to originate, underwrite, and fund the loan within a few business days.
Fast close for an equity cash-out loan.

Deal Summary

Blue-inc Capital, a private lender based in Oregon, funded a $200,000 equity cash-out loan in 1st lien position secured by a single-family rental in Eugene, OR. The Borrower owned the property free and clear, and needed funds fast for some light rehab “fix up” including other miscellaneous items. The property value was estimated to be $500,000 and the renovation budget was $75,000. The after-repair value was $600,000 so our loan-to-after-repair value was 33.33%. We were able to originate, underwrite, and fund the loan within a few business days. The approximately 1,200-square-foot subject property was vacant and located in a rural area. The loan term was set at 12 months. This hard money refinance loan was funded in February 2023.

Funded By

Blue-inc. Capital

Oregon's private lending solution for over 30 years