Funded Deals

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. 

A broker approached us with a request for a second mortgage for debt consolidation.

Their client had purchased a home in 2018 for $800,000 and secured a 5 year fixed low interest rate mortgage.

In the years following, they accumulated a lot of high interest credit card  debt and as a result, their credit scores were declining drastically due to overutilization. 

The solution was very clear.  As the property was now worth well over $1,200,000 – there was enough equity for Stonefield Capital to provide the client with a $70,000 second mortgage to consolidate the debt and immediately start rebuilding their credit.

As per the clients requests, the term was fully open and fully prepaid and gave the client flexibility and cash flow to improve their financial situation. 

Upon maturity of their first mortgage, their broker will be able to refinance (or switch) with an A lender and pay out the private mortgage.

A client decided to retire and due to their low income, it was difficult for them to qualify for institional financing.

They were not ready to commit to a CHIP mortgage (otherwise known as a reverse mortgage) as the penalty to break these mortgages are incredibly costly, and they were unsure if they wanted to stay in this home for the long term.

As a solution, we were able to offer a 1 year term with prepaid interest to provide the client with time and flexibility to determine their next steps without having to worry about monthly mortgage payments.

The following year, they decided to sell the property and move in with family to help raise their grandkids! 

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