A broker approached Stonefield Capital with a difficult situation that needed a quick solution.
The client had sold their property and purchased a new property – intending to use the funds from the sale to provide a significant down payment and secure a mortgage from a financial institution.
The sale fell through after the buyer had already committed to the new purchase which left the borrower in a difficult position – as now their institutional financing was unable to proceed.
We were able to provide a commitment within 24 hours for a $900,000 fully open and short term 1st mortgage. This allowed the client to close on their purchase and the broker was able to refinance their client as soon as they could with no additional penalties to exit the private loan.
We Simplify Private Lending
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