This fix and flip loan was for a very experienced investor in the Seattle market. Although they were originally working with another hard money lender on this property to begin with, our repeat borrower moved their business over to CIVIC due to our competitive pricing, longer loan term, and the ability to finance the rehab. As an added bonus, due to the rehab component, our borrower was also able to leverage our partnership with The Home Depot® to help maximize their return.
The property was found as an off-market listing, and because of the quality of the deal, the borrower was able to put less than 20% down. With CIVICs rehab financing, they were also able to finance 100% of the rehab budget and completely transform the property into a beautiful, brand new house.
CIVICs partnership with The Home Depot® helped our borrower save on rehab materials, and CIVICs bridge and rehab financing kept their investment funds liquid throughout the project allowing them to keep their eyes open for new investment opportunities.