Austin, Texas Hard Money Refinance Loan

Lien Position: 1st

Loan Amount: $2,200,000

Loan to Value: 45%

Term: 12 months with no prepayment penalty

Details: Source Capital Funding provided a hard money investment refinance loan in Austin, Texas to this client. The borrower had an LLC and purchased the property the prior year to remodel and sell. They utilized the equity to further remodel the interior of the property and add numerous upgrades to the landscaping.