- Loan Amount: $158,000
- Rate: 9.25% to 10.25% step rate
- Appraisal Value: $300,000
- Term: 24 months
- Lien Position: First
A Fast turn-around for this loan. The existing loan was in default and a Foreclosure sale was scheduled for Monday morning. We underwrote the loan and funded it the Friday before, exactly a week from referral. The referring broker was great to work with, He made sure we received every document we needed from the buyer and escrow was extremely responsive.