Case Study: Cashout Refinance in Bath, PA

A top tier DLP Lending repeat borrower sought a $900k cashout for a recently rehabbed multi-family property in Bath, PA. The borrower has significant experience in the investment housing space, and has performed over 20 flips within the past four years alone, including several from funding with DLP Lending.

Previously an industrial sewing warehouse, this Bath, PA property underwent significant construction in order to be converted into an 11-unit apartment complex, with units ranging from 800 to 1,000 sq. ft. each.

With rehab now completed, the borrower utilized DLP Lending to cashout on the investment. The proceeds will be used to fund upcoming investment opportunities. Additionally, this refinancing will bridge the property through to permanent, long-term financing with another lender.

 

The Property

  • Located in Bath, PA
  • Multi-Family Apartment
  • 1 to 3-bedroom units

The Loan

  • Loan Type: Cashout Refinance
  • Loan Amount: $900,000
  • LTV: 70%
  • Interest Rate: 10.99%
  • Length of Loan: 9 months
  • Exit Strategy: Sell

Before Renovations

After Renovations