A repeat borrower and experienced investor is looking to refinance existing debt on a subject property and cash-out to fund other investments located in Mesquite, Texas. The project is a Single-Family Residential (SFR) rental that is currently leased for $1,975 per month, which falls in line with the appraiser’s estimate of market rent. Overall, the property appraised for $200,000 As-Is. The total loan amount has come in at 75% Loan-to-Value (LTV). The borrower was able to utilize RCN Capital's Long-Term Rental Financing Loan Program to execute this project!
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