Recently we funded a  $336,000 cross-collateral loan for one of our clients.

Our client owns his primary residence outright and wanted to pick up a new fix and flip.

Our client had enough equity in his primary residence that we were able to fund 100 % of the acquisition of his fix and flip, including the rehab and closing expenses.

How many Lenders do you know doing that!

Deal Details:

Acquisition:

Clintwood Ave, Englewood, FL 34223

Total loan: $336,000

Collateral value: $472,000

Term: 12 Months

Cross-Collateral:

N Maryland Ave, Plant City, FL 33563

Collateral value: $472,000

Combined Collateral

Combined collateral value: $942,000

Combined collateral LTV: 36.84 %

Total loan: $336,000

Client out-of-pocket expenses: $0