First Capital Trust Deeds arranged the 70% Loan-to-Value (LTV) hard money Refinance + 100% of rehab financing for a Northern California real estate investor who needed to make major renovations to the property in order to resell for a profit.
The property was rather ugly but the financing terms turned out to be quite attractive for hard money lending with an interest rate of 8.50%.
Refinance + Rehab Financing Terms:
- $189,000 Refinance + $77,000 Rehab
- 8.50% Interest-Only
- 12-Month Term
- No Prepayment Penalty