The borrower needed funds to purchase and improve this property for use in his short term rental business. The borrower intends to payoff our mortgage through traditional refinancing once he’s able to demonstrate historical cash flow.
loan overview
$498,000
loan priority
1st. Mortgage
loan type
Purchase
loan to value (LTV)
60%
appraisal value
$830,000
Location
Biscayne Park, Florida
term length (months)
6 months
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