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CASE STUDY: $291K: Single-Family Portfolio: Cleveland, OH

Andrew Cleveland

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!” 

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