Location: Pittsburgh, PA
Loan Amount: $175,000
iFC Loan Product: Cash Out Bridge
Property Type: Multifamily – 7 unit
Loan Closing Date: 9/7/22
Purchase Price: $200,000
Loan to Cost: 50%
Length of Loan: 12 months
This client was working with another lender who decided at the end of the process that they would no longer fund the deal. The client had already received an extension on their current loan and needed a lender that could take action.
We were able to get creative and finance this unique multifamily property that was turned down by other lenders.
The borrowers could get out of their current loan without having to pay another extension and refinance while getting some cash out the property.
“You and the iFC Team were incredible from start to finish and helped us in the time we needed it most.”