Example:
Purchase Price: $45,000
Rehab – $10,000
As-Is Value: $ 100,000
In this scenario we can provide 100% of the purchase price plus $5,000 towards the rehab or $50,000 in funding
Example on Funding for Refinance:
Rehab Refinance: 65% of the As-Is Value (funds will be placed in Escrow with a scheduled draw for rehab on property)
Cash-Out Refinance: 50% of the As-Is Value
Example of Funding for Cross Collateralization:
Purchase
Purchase Price: $80,000
As-Is Value: $99,000
Rehab Needed $15,000
Refinance of Free & Clear Property (Collateral)
As-Value: $70,000
50% of Value: $35,000
$64,000 – Fund towards Purchase
$35,000 – Fund (Free & Clear Property 50% of Value)
$99,000 – Total Loan Amount w/Purchase & Asset)
$99,000 – Loan
$80,000 – Purchase
$19,000 – Left Over
$15,000 – Rehab
$4,000- Left Over after Escrow Rehab to use towards closing costs
· No credit! Check flat 15% if you don’t want your credit pulled.· We can lend up-to 65% toward Rehab cost.
· Five home max for blanket loan.
Contact: Richard Bruton @ (866)546-6002 or email richard@smallbusinessfundz.com
“Your Success is Our Business”
