Borrower is an experienced Investor looking to cash-out on this beautiful property located in Pompano Beach, FL and paying off $550k of existing lien. Subject is an SFR, which is currently leased for $9,000 per month which is above the market rates per the appraiser's estimate ($8,500). Subject appraised for $1,900k As-Is (subject to CDA). Sponsor on the loan with good credit with a mid-score of 693; Bank statements reflect just over $229k in liquidity which is sufficient to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 43.3% LTV with 1.10 DSCR.
.png?width=234&height=80&name=logo-white-1%20(2).png "RCN Capital"){kind=logo}
REAL ESTATE FINANCING
Review Current Guidelines for Fix and Flip, Long-Term DSCR, Ground-Up Construction, and Other Loan Programs.
RECENT LOANS
View Recent Examples of Real Estate Investment Transactions that RCN Capital Has Funded.
BROKER REFERRAL PROGRAM
Get More Information on RCN Capital’s Broker Program with Different Levels of Involvement and Compensation to Best Suit Your Business.
CORRESPONDENT LENDING
Partner with RCN Capital to Grow Your Private Lending Business by Accessing the Capital and Back-End Support You Need to Expand.
PREFERRED VENDORS
View RCN Capital’s Curated Network of Trusted and Reliable Vendors to Streamline Your Real Estate Business.
CORE VALUES
Learn More About RCN Capital’s Core Values and What We Stand for as a Company.
OUR TEAM
Meet Some of RCN Capital’s Key Employees That Have a Critical Role in the Organization.
Recent Articles
Take a look at the latest from RCN Capital featuring Company News, our Video Library, and Recent Closed Loans.
JOIN OUR TEAM
Review Open Positions at RCN Capital and Learn How You Can Start Your Career with a Leading Private Lending Today.
FAQ
Review Answers to RCN Capital’s Most Frequently Asked Questions.
Amplify Your Education
Access Our Free, Self-Guided Wholesale Partner Training Platform Designed to Help You Master Real Estate Investment Loan Origination.
DOCUMENT LIBRARY
Review and Download Important Documents That May Be Needed Throughout the Loan Process.
REAL ESTATE INVESTING TERMS
Grow Your Real Estate Investing Knowledge with Our Simple Guides of Industry-Specific Terms.
REHAB BUDGET BUILDER
Analyze Your Next Investment Property to Develop an Accurate Scope of Work and Maximize Your Return on Investment.