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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
09/08/2023
Property Type
Property City
Austin
Property State
TX
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$1,850,000
Renovation Budget
$215,000
Renovation Budget Funded
100%
Property Condition
Fair
Occupancy at Closing
Vacant
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Good
Interest Rate
9.99%
Origination Points
2.00%
Deal Summary
Capital Funding Financial, a direct lender, funded a $1,775,000 1st trust deed on the acquisition of a 5 BD/5 BA SFR in Austin, TX. The purchase price was $1,850,000. The Borrower was in need of fast & flexible financing with a $215,000 renovation reserve. The Borrower is an experienced real estate investor who plans on renovating the property with a new kitchen, floors, bathrooms, windows, exterior paint job and new pool deck to reposition it to sell. The interest rate was 9.99% with 2 origination points. The loan term was set at 12 months. This fix and flip loan was funded in September 2023.
Funded By
Capital Funding Financial
Direct Lender for Investment Real Estate - 7 Day Closings - Low Rates
Dealmakers
David DiNatale
Managing Partner