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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
03/15/2016
Property Type
Property City
Santa Rosa Beach
Property State
FL
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$535,495
Loan-to-Purchase Price
61%
Borrower's Contribution to Purchase
39%
Source of Borrower's Contribution
Cash
Property Condition
Good
Building Square Footage
1,863
Borrower's Plan
Long-Term Rental
Exit Strategy
Refinance
Deal Summary
Refresh Funding, a private lender, funded a $325,000 1st lien position private money loan for the acquisition of a single-family home in a small coastal town in Santa Rosa Beach, Walton County, Florida. The purchase price was $535,495. The Borrower put down 39% in cash toward the purchase, so our private money loan is 61% LTV (loan-to-value). The property size is approximately 1,863 square feet. The property was delivered vacant and is in good condition. The Borrower plans to rent the home and hold it as a long-term investment. He plans to refinance with a conventional lender within the 12-month loan term. We quickly funded this 1st trust deed private mortgage in just 10 days. This private money loan was funded in March 2016.
Funded By
