Case Study5-Day Closing: Mixed-Use Hard Money Loan In Central Oregon
Loan Amount: $800,000
Loan-To-Value: 58% LTV
Situation & Challenge
Bank financing fell through five days before the scheduled close of escrow due to recent vacancies in the units. The buyer wanted to close on-time in order to start filling the residential units during the upcoming vacation season, which was only a few weeks away.
Solution & Result
First Capital Trust Deeds secured financing from an individual trust deed investor who had funded dozens of loans for our clients over the past two year. Loan docs were drafted within a day and the buyer was able to close on schedule.