2 Day Funding
Hayne: 4 Bedrooms/2.5 Bathrooms; 3,230 Sq. Ft.; 1.4 Acres; Year Built 1965
N. Delaware: 5 unit apartment complex; 5,060 Sq. Ft.; 5,700 Sq. Ft. lot; Year Built 1959
The borrower was in the process of purchasing a new home when their conventional financing fell apart. As a result their deposit was at risk.
They decided to complete a cash-out refinance on Hayne and N. Delaware to access the capital necessary for the purchase.
Their exit strategy is to sell Hayne Road and pay off the loan with the proceeds.