First Capital Trust Deeds secured a 85% LTV hard money fix and flip financing loan for a Bay Area investor who acquired this Oakland Hills fixer upper.
What was interesting about this particular loan is that the buyer/borrower chose a 1 Point Origination Fee + $1295 @ 12.00% interest-only pricing structure rather than a 2 Points + $1295 @ 9.75% interest-only financing loan. Why this stands out is because the borrower expected to be in and out of the property within 6-8 months, rather than having this project extend out the full 12 months like many fix and flip financing projects in the Bay Area go.
85 LTV Hard Money Fix and Flip Financing Terms:
- $518,500 Loan Amount (85% LTV)
- 12.00% Interest-Only
- $5,185/Month Payment
- 12-Month Term
- No Prepayment Penalty