This property was purchased by a non-profit organization who rehabs homes in need of repair and then resells the improved property upon completion. The borrower purchased the property with all cash to get the best price possible in a very competitive market. SFG then funds a modest cash-out rehab loan while leaving solid equity in the transaction. We hold money back to make sure the rehab work is completed. The borrower gains a substantial competitive advantage by paying with cash. Our quick funding allows them to stay one step ahead of the typical rehabber.
Approximate LTV 57%
