Funded Deals

620 FICO Fix & Flip Loan

This is one of five loans that we did for this borrower that was under contract to purchase apartments in Santa Cruz. The loans were in process with another mortgage broker who couldn’t structure the deal correctly so the borrower pivoted and we got them cleared to close in record time as promised.

In this unique scenario, the property’s actual rents significantly exceeded market rents. To meet debt coverage requirements, we leveraged those actual rents—something traditional lenders often can’t accommodate. Thanks to our flexible, solution-driven programs, we successfully refinanced the borrower into a 30-year fixed loan with no balloon payment. This was a major upgrade from the borrower’s previous commercial loans, which always came with balloon terms and ARMs.

Borrower first contacted IPL @ 8PM on Halloween evening after being in cotract for 23 days and a bank turning down the deal. Nevertheless we started the loan and got it cleared to close in 8 calendar days.

We helped this borrower for over a year until he found his dream home and perfect rate despite the crazy market.

We helped with the initial bridge debt to acquire this property with 100% LTV. Just over a year later we refinanced our internal funds with permanent agency debt.