Equity Cash-Out Loan for Single-Family Residence in Aiea, Oahu

Myers Capital Hawaii—a residential and commercial mortgage banking company and direct private lender—partnered with its affiliate, Koa Mortgage Fund, to fund a $455,000 equity cash-out loan secured by a single-family home in Aiea, HI. Koa Mortgage Fund, a pooled mortgage debt fund, structured the loan at a conservative 35.82% loan-to-value based on the property’s appraised value of $1,270,000. The Borrower, an existing client, initially sought to refinance the property into a DSCR loan. However, deferred maintenance and property condition issues prevented the property from qualifying for traditional rental financing. To keep the investment strategy on track, our team structured a bridge loan that allowed the Borrower to access equity, complete the necessary improvements, and prepare the property for the rental market. The subject property is approximately 1,590 square feet on a 7,560-square-foot lot. The Borrower had excellent credit. The interest rate was 13.75%. The loan term was set at 12 months. This private money loan was funded in May 2026.