Deal Of The Week: Investor Purchase + Renovation
DEAL OF THE WEEK
Purpose: Clients needed funding for a investment home purchase + renovation for a single family detached house in North York.
“As Is” Value: $800,000
“As If Complete” Value: $950,000
We arranged for clients to get a 1st mortgage for a low interest rate covering 65% LTV.
1st Mortgage: $520,000
We arranged for a 2nd mortgage up to 80% LTV for a 6 month term, fully open.
2nd Mortgage: $120,000
Clients will make $150,000 profit in 6 months
Got a situation like this? Contact Matrix Mortgage Global 24/7 at 1.800.429.0717