Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
02/01/2023
Property Type
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%
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 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