💥 MCF TO THE RESCUE 💥
Location: Miami, Florida
Property Type: Investment Property
Loan Type: Refinance
Purchase Price: $485,000.00
$ Equity Rescued: $505,000.00
🛑 The Problem:
- A successful business owner looking to expand her real estate portfolio had used hard money financing to buy a single-family home in the sizzling Miami market to take advantage of the awesome deal she was getting.
- Her hard money loan had a 1-year balloon provision. Although she made amazing income she was denied by her chosen lender.
- This was a wake-up call as the lender’s restrictive income and vacancy guidelines regarding investment properties were an unnecessary hurdle for the investor. Her balloon mortgage had also come due, and she was facing a notice of default.
🙌 The Solution:
- MCF Mortgage has unparalleled strength in providing financing for real estate investors through a myriad of programs that address an investor’s unique needs.
- Our Portfolio Program has several loan programs that welcome investors looking to build a successful and lucrative investment portfolio.
- We instantly recognized how we could help and secured long-term financing for this investor, as well as rescued her $505,000 in equity from the Hard Money Lender.
As always, remember to Mortgage IntelligentlyTM
