Closed Loan in Minneola, Florida
Property Type: Single Family
Loan Amount: $254,000
Location: Minneola, FL
Broker Made: $5,080
Days to Close: 24
An investor in Florida wanted to purchase a single family property but was having difficulty with lenders because the property was vacant.
Silver Hill Funding overcame this hurdle by allowing market rents to be utilized during the underwriting of the loan. The borrower ended up with a 5-year loan and an interest rate of just 6.375%. It should also be noted that Silver Hill closed this loan in just 24 days.