Featured Loan

$4,800,000 Apartment Building Hard Money Bridge Loan in Chicago

Loan Details

Loan Amount:  $4,800,000

Loan-To-Value:  75% LTV

Term:  12-Month

First Capital Trust Deeds secured a $4,800,000 apartment building hard money bridge loan in Chicago for the owner making improvements before placing the property for sale in Spring 2020.

Usually, 75% Loan-To-Value (LTV) on a hard money cash-out loan is higher leverage than most lenders like to go. However, in this case, 90% of the occupants had subsidized housing which guaranteed a steady stream of rental income that covered the debt service on the loan. 

The resulting refinance provided the owner cash-out funds to embark on the renovations that would be completed by March 2020. 

Do you have a similar financing scenario?
Inquire about your financing options with FCTD.