Fix and Flip Loan for SFR in Katonah, Westchester County, New York

Funded by Lima One Capital


Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date


Property Type
Single Family Residence
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Source of Borrower's Contribution


Renovation Budget


Renovation Budget Funded


Borrower's Contribution to Budget


After-Repair Value


Loan-to-After-Repair Value


Renovation Project Scope

Light Rehab

Location Type


Building Square Footage


Borrower's Plan

Rehab and Sell

Exit Strategy


Deal Summary

Lima One Capital, a lender for residential real estate investors, funded a $2,083,500 1st lien position fix and flip loan for a single-family home in Katonah, NY. We funded 100% of the $1,015,000 renovation budget and 85% of the $1,300,000 purchase price, while the Borrower contributed 15% cash to the purchase at closing. The after-repair value was estimated at $3,550,000 so our loan-to-value was 59%. New York can be a tricky state for lenders, but the team at Lima One used its expertise to close this deal efficiently. The in-house operations, underwriting, post-closing, and legal teams helped to complete this deal to purchase a suburban Westchester County property. The investor plans to repair and update the home, which was built in 1880. A new bathroom will be added along with a new HVAC system. This classic residence will then hit the market for sale, ready to delight new homeowners. The subject property was approximately 6,500 square feet. The loan term was set at 13 months. This SFR fix and flip loan was funded in October 2023.

Funded By

Lima One Capital

The Nation's Premier Lender for Real Estate Investors