New client, who resides in NY is looking to purchase a 2-family unit in Temple, TX. The purchase price is equal to the appraised as-is value of $230K. Property comes with tenants in place for both units for a total of $2,050/month. Sponsor has good credit and liquidity to close this deal. Loan is structured …
Experienced & repeat borrower looking to cash-out on subject property into. Subject is a SFR house and is currently leased for $800/Month which is below rate rent per appraiser’s estimate of market rent. The property is appraised for $102k as-is and a CDA was not obtained. Sponsor has decent credit with mid score of 738 …
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Borrowers looking to cash out on a subject property which is an SFR, currently leased for $2,650 per month which is equal to appraiser’s estimated market rent. Subject appraised for $330k As-Is. Four sponsors on the loan with mid-scores of 706, 760, 735 & 735 and bank statements reflect liquidity which is sufficient to meet …
Borrower is looking to cash out refinance a duplex in Collingdale, PA. Property is appraised for $260K as-is (CDA Confirmed) and both units are leased in line with the market rents for a total of $2,100/month. Sponsor has a mid-score of 697 and sufficient liquidity to meet debt service. Loan is structured at 69.2% LTV …
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Borrower looking to refinance existing debt on subject property and pull cash-out to fund other investments. Subject is a SFR and is currently leased for $1,495/month which is below the market rent per the appraiser’s estimate ($1,700). Property appraised for $177k As-Is and CDA confirmed the appraised value. Sponsor has decent credit with mid-score of …
Repeat borrower under contract to purchase a SFR at market price for $350k with intentions to add $45K in rehab. Per Appraiser, an ARV of $460,000 to $480,000 seems reasonable. Sponsor has good credit and excellent liquidity to close the deal. Loan is structured in accordance with the guidelines.
Experienced client under contract to purchase and rent the subject property for $475k to hold it as long-term rental income. The property is a duplex in average condition and is appraised for $500k as-is and appraiser’s estimate of market rent is $3,800/Month. Borrower has good credit with middle score of 718 and bank statements reflect …
Borrower is a repeat and experienced investor under contract to acquire the subject property for $190K with intentions of spending $25K on renovations before listing the property for resale. Subject is an SFR located in East Hartford, CT. Sponsor has average credit with mid-score of 690 and bank statements reflect sufficient assets to close this …
Borrower under contract to purchase the subject property in San Benito, TX for $259.9k to hold it into a long term rental income. Subject is an SFR which is currently vacant. Subject appraised for $260k As-Is and a CDA confirmed the value was acceptable. Sponsor on the loan with Excellent credit with a mid-score of …
Borrower is an experienced investor under contract to acquire the subject property for $472,500. Subject is an SFR located in Dallas, TX and is appraised for $675K As-Is. Sponsor has a mid-score of 684 and bank statements reflect sufficient liquidity. Loan structured in accordance with the qualification model. Total Loan amount 70% LTV.
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RCN Capital, LLC is licensed as a California Finance Lender under Department of Business Oversight license number 60DBO-46258. Arizona Mortgage Banker License BK-0932325. Oregon Mortgage Lending License: ML-5571. NMLS Company ID: 1045656
