Another 24 hour close!
Lone Oak Fund just funded another loan is less than 24 hours! A repeat borrower approached LOF needing to close a short sale acquisition extremely quickly. The Borrower plans on rehabbing the existing SFR and putting it back on the market for sale.
|Property Type||2,082 square foot SFR on a 17,000 square foot lot|
|Loan to Cost||65%|
|Rate||8.60% interest only for months 1-6 and 8.70% interest only for months 7-12|
|Origination Fee||2.0 points|