Hey everyone! Our iFC CASE STUDIES give you real-life details about how other investors used our loan products to build their portfolios!
Highlights:
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
LTV: 70%
Length of Loan: 30 years
Overview
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.
Customer Feedback:
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!”