We have an accepted offer on a property in Harrisburg PA. It is located in one of the most desirable school districts in the area.
PP - $65,000
repairs - $40,366
total investment needed - $107,126
profit - $25,354
We would like to find a private investor or two for this one but will accept gap funding with HML.
Gap money needed will be a minimum of $17,717 to cover the difference, points, and carrying costs if we get a loan for $100,800.
Email me at firstname.lastname@example.org for more information.
100% Rehab Bridge Loan Program Highlights www.ecapitalfund.com
Funding Terms: 1-4 family non-owner occupied $50,000 -$500,000
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100% for purchase, improvements & soft costs - Up to 70% ARV
Interest rate Prime plus 6.25%. Minimum interest rate is 9.5%
Monthly Interest Only Repay
Principal due at maturity
No prepayment penalty
Loan Period 9 Months
Origination Points 3
Loan Commitment Fee 5% - Rolled out of the loan
Credit History - A minimum middle credit score of 680 for all applicants.
Lender Doc Fee up to $450.00 for each project
The appraisal will be ordered by Lender.
The cost of the appraisal is the financial responsibility of the borrower.
Prior to Closing; Title Insurance, Builder's Risk Insurance and Survey
Repayment - Monthly interest-only payments.
You will receive a decision in 2-3 business days upon submission of a
complete rehab loan package.
Funding available fo the following states:
Ohio, Pennsylvania Tennessee, Kansas, Missouri, Indiana, Illinois,
North Carolina, South Carolina, New York & New Jersey