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 Type2,082 square foot SFR on a 17,000 square foot lot
Purchase Price$850,000
Loan Amount$552,000
Loan to Cost65%
Term12 months
Rate8.60% interest only for months 1-6 and 8.70% interest only for months 7-12
Origination Fee2.0 points
Prepayment PenaltyNone




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