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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
06/28/2024
Property Type
Property City
Jefferson City
Property State
MO
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$100,000
Loan-to-Purchase Price
85%
Borrower's Contribution to Purchase
19%
Source of Borrower's Contribution
Cash
Location Type
Suburban
Property Condition
Fair
Occupancy at Closing
Tenant-Occupied
Number of Units
1
Building Square Footage
1,058
Borrower's Plan
Continue Rental
Exit Strategy
Refinance
Borrower Credit Rating
Good
Interest Rate
12.5%
Origination Points
3%
Deal Summary
This deal was for a new borrower – the property is local to our home office and the borrower lives in another city about 2 hours away. We were able to assist the borrower with identifying the properties and their locations, and due to the strong credit score and history of the borrower – we gave a loan on a package of 4. This property is one of the 4 the borrower closed on the same day. We pulled in a local title company and were able to fund and close within 3 business days. Great borrower that we hope to continue to work with on future deals.
Funded By
Minnow Loan
Your Deal. Our Money.
Dealmakers
Shelby Reed
Co-Founder