Hey everyone! Our iFC CASE STUDIES give you real-life details about how other investors used our loan products to build their portfolios!
Location: Cleveland, OH
Loan Amount: $291,375
iFC Loan Product: 30-year fixed DSCR
Property Type: Single Family Portfolio
Loan Closing Date: 4/15/2022
Monthly Rental: $5,100
Length of Loan: 30 years
This customer in Cleveland, OH came to us by way of a referral.
The customer had been trying to work with their local bank on refinancing several rental properties, but they were not getting a workable solution from them for the transactions.
The client was looking for long-term loans that did not carry a balloon payment.
Andrew, one of iFC’s highly-industrious loan officers, was able to offer the client 30-year cash-out refinancing without a balloon payment.
Key Benefit to Borrower:
This loan gave the client permanent financing for an important part of their single-family portfolio, without the client having to worry about coming up with additional funds down the road for the balloon payment.
The customer was grateful for the refinancing arrangement, which allowed the client to open a new door. He explains, “This cash out refinance allows me to invest in a 15-townhome rehab!”