Fund That Flip closed the loan on this property on August 2nd, 2016. Your investment will begin accruing interest on the day it clears escrow.
Fund That Flip has provided $104,975 to the developer at closing for an as-is loan-to-value of 77.8%. Fund That Flip is holding back $3,025 for 3 months of pre-paid interest.
The rehab budget is $90,000 and Fund That Flip will finance $0 of the rehab budget.
Over the course of the project, the developer will contribute an estimated $137,125 in equity, including an estimated $35,025 at the time of closing. The total loan-to-ARV is 36.7%.
There is a 3 month pre-payment penalty, meaning investors will earn interest through November 2nd, 2016, even if paid back earlier. The term of the underlying loan is 12 months with an option to extend for an additional 3 months. Should Fund That Flip chose to grant the extension, investors will earn an additional one-time .5% fee on their investment.
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