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Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
09/29/2023
Property Type
Property City
Kissimmee
Property State
FL
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$170,000
Loan-to-Purchase Price
85%
Borrower's Contribution to Purchase
15%
Source of Borrower's Contribution
Cash
Renovation Budget
$88,660
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$360,000
Loan-to-After-Repair Value
65%
Renovation Project Scope
Heavy Rehab
Location Type
Suburban
Property Condition
Good
Occupancy at Closing
Vacant
Number of Units
1
Building Square Footage
1,300
Lot Square Footage
8,212
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Good
Interest Rate
12.49%
Origination Points
3%
Deal Summary
Rehab Financial Group, a private money lender, funded a $234,000 1st lien position fix and flip loan for a single-family home in Kissimmee, Osceola County, just south of Orlando, FL. The purchase price was $170,000. We funded 85% of the purchase while the Borrower contributed 15% cash. We funded 100% of the $88,660 renovation budget. The after-repair value was estimated at $360,000, so our loan-to-value was 65%. The subject property was approximately 1,300 square feet set in an 8,212-square-foot lot. The Borrower had good credit. They plan to sell the property as an exit strategy. The interest rate was 12.49% and we charged 3% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in November 2023.
Funded By
Rehab Financial Group
100% Financing for Rehab, Flip and Construction Projects - NO DOWN PAYMENT!