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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
10/25/2023
Property Type
Property City
Macon
Property State
GA
Loan Term (months)
360
Lien Type
1st Mortgage
Payment Type
Amortized
Property Value
$2,494,000
Loan-to-Value
72%
Term
30 years
Rate Type
Fixed
Number of Units
26
Borrower's Plan
Long-Term Rental
Deal Summary
Lima One Capital, a lender for residential real estate investors, funded a $1,795,350 1st lien position rental refinance loan secured by a portfolio of 26 single-family rentals homes in Macon, GA, approximately 80 miles southeast of Atlanta. The value of the entire portfolio was estimated at $2,494,000 so our loan-to-value was 72%. The properties were all purchased at different times, and there was a previous loan on them which we paid off. Most of the homes were leased, but some of them were vacant at the time of closing. Lima One provided a fixed-rate, fully amortized loan. This gave the Investor certainty in terms of expenses so they can plan cash flow over the long term. The loan term was set at 30 years. This DSCR rental refinance loan was funded in October 2023.
Funded By
Lima One Capital
The Nation's Premier Lender for Real Estate Investors