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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
04/30/2019
Property Type
Property City
Duvall
Property State
WA
Lien Type
1st Mortgage
Payment Type
Interest Only
Occupancy at Closing
Owner-Occupied
Borrower Credit Rating
Good
Deal Summary
DML Capital, a direct lender for investment property bridge loans, funded a $371,000 1st lien position equity cash-out loan secured by a single-family residence in Duvall, WA. The Borrower and her husband are retired but own several properties that generate rental income. Their stated income is $30K; However, they did not disclose their full real estate portfolio. They had good credit and have been current on payments for the previous loan for 12+ months. The proceeds from this loan went to pay off an existing loan with an incremental $30K to fix a code violation on a rental property. This SFR equity cash-out loan was funded in April 2019.
Funded By
DML Capital
Direct Lender for Investment Property Bridge loans in CA & WA | 1st or 2nd