The Client

First Time Borrower — Part-time Real Estate Investor
• Loan Purpose
Stabilized Bridge Refinance
• Loan Structure
24 months interest only

The Investment

No Renovation — Stabilized Property
• Purchase Price
$295,000
• Renovation Budget
$0
• Loan Amount
$171,000
• Cash Available for Purchase
$171,000
• Cash Available for Renovation
$0

The ABL Partnership

­Asset Based Lending recently funded a stabilized bridge loan to a first-time borrower and part-time real estate investor in Torrington Connecticut. This borrower purchased in 2019 and has since performed renovations on this property. The borrower’s intention is to refinance the property into a 30-year DSCR loan, but their credit score came in lower than expected. As a solution the borrower is using a stabilized bridge loan to cash out the equity on the property and use the funds to put themselves in a better position to refinance into a DSCR loan in the future.

The Results

• After Repair Value
$310,000 (As-Is)
• Sale Price
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