fundings
fundings
Funded Amount: $350,000
Type: Condo
Lender: Private to A Lender
Location: Langley, BC
Loan-to-Value (LTV): 65%
Value: $538, 460
pre-sale year 2
The client purchased two condo pre-sales but could not qualify conventionally at completion due to outdated financials and lack of rental income. To avoid losing the properties, they needed short-term private financing.
The Problem
To help the client get ahead, we arranged private financing with one year of payments collected upfront - meaning no mortgage payments for the first year. During that time, the client secured tenants, increased rental income, and updated their tax filings and financials. Before maturity, we refinanced both properties from private financing to an A-lender at 65% LTV.
The Solution
- Kept both pre-sale properties
- Avoided mortgage payments for one year
- Increased rental income and improved cash flow
- Lowered the interest rate by over 3%
- Secured a 3-year term for long-term stability and peace of mind
Outcome & Key Takeaways
Funded Amount: $350,000
Type: Condo
Lender: Private to A Lender
Location: Langley, BC
Loan-to-Value (LTV): 65%
Value: $538, 460
pre-sale year 2
The client purchased two condo pre-sales but could not qualify conventionally at completion due to outdated financials and lack of rental income. To avoid losing the properties, they needed short-term private financing.
The Problem
To help the client get ahead, we arranged private financing with one year of payments collected upfront - meaning no mortgage payments for the first year. During that time, the client secured tenants, increased rental income, and updated their tax filings and financials. Before maturity, we refinanced both properties from private financing to an A-lender at 65% LTV.
The Solution
- Kept both pre-sale properties
- Avoided mortgage payments for one year
- Increased rental income and improved cash flow
- Lowered the interest rate by over 3%
- Secured a 3-year term for long-term stability and peace of mind
Outcome & Key Takeaways
