$770,000 Refinance of an SFR Portfolio in Pasadena, TX

Deal Overview

LoanBase recently secured financing for an SFR portfolio consisting of six rental homes in Pasadena, TX. The Sponsor is a foreign national, a group that often struggles to qualify due to their lack of U.S. credit history or tax returns. Despite the challenge, we were able to leverage our extensive network to find the right mortgage provider for our client. The investor also benefited from our streamlined underwriting process. Lastly, LoanBase negotiated with the lender to get an interest-only option, helping to offset the current rate environment.

 

Transaction Details

Loan Amount

$770,000

Loan to Value

70%

Term

5/1 IO

Rate

7.25%

Recourse

Non- recourse