Multifamily bridge, Boise

$420,000

Location

Boise, ID 83702

Target rate

11.41%

Term

1 yr

Property type

Multifamily 5+

Property & underwriting

Occupancy: Tenant occupied
Units: 8
Lien position: First lien
As-is value: $734,000
LTV (as-is): 57.2%
Purchase price: $652,000
After-repair value: $995,000
Loan-to-ARV: 42.2%
Rehab budget: $59,000
Exit strategy: Refinance with bank takeout
Borrower experience: 15+ deals completed
Credit score range: 600-649
Borrowing entity: S-Corp
Funding timeline: 2-3 weeks
Additional collateral: Multifamily 5+ at Boise, ID

Use of funds

Acquisition + rehab

Deal summary

Refinance existing hard money on a multifamily 5+ in Boise, ID. Borrower is seeking $420,000 at up to 11.41% for 12 months. Refinance with bank takeout.