All of our CASE STUDIES, like this McAllen, TX, DSCR Rental Refi Loan case study, for a $245,600 loan, showcase the real estate investment loans we have done for our clients. They give you real-life details about how other investors used our loan products to build their portfolios! From fix and flip and fix to rent loans to new construction, multifamily and rental loans, we do them all!
CASE STUDY OVERVIEW: DSCR Rental Refi: McAllen, TX: $245,600
Location: McAllen, TX
Loan Amount: $245,600
iFC Loan Product: DSCR Rental Refinance Loan
Property Type: Single Family
Loan Closing Date: 05/12/24
Purchase Price: $118,000
Construction Budget: $127,000
Monthly Rental: $2,300
ARV: $307,000
Loan to Value: 80%
Exit Strategy: Long Term Rental
Length of Loan: 30 Years
CASE STUDY DETAILS: DSCR Rental Refi: McAllen, TX: $245,600
This borrower in McAllen, Texas, met our Texas director Jack Pagliarini through a cold call. Shortly after, Jack traveled down to McAllen, TX to meet the borrower in person and check out some of their ongoing projects.
This borrower has been flipping houses, building homes, and using the BRRRR method for the last five years and has consistently grown their portfolio in McAllen, using friends, family and bank money.
The borrower was in a hard money loan with deferred interest that was accruing by the day while they were searching for a lender who could maximize leverage for their newly renovated rental property and close quickly.
HOW WE HELPED
iFC provided a DSCR loan at 80% LTV to cover the borrower’s payoff and keep them from bringing a significant amount of cash to the closing table.
By using iFC in this deal, the borrower gained a lender that offered flexibility and the ability to provide higher leverage on their rental loan.
CUSTOMER FEEDBACK
“LFG! Now it’s time to get my 10-plex refinanced!” said this borrower.
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