Boca Raton, FL, March 1, 2024: QuickLiquidity, a direct lender for investment real estate, has successfully closed a $625,000 first mortgage cash-out refinance of a 9-unit residential condominium located in Brooklyn, New York.
The borrower owned the property free and clear but quickly needed capital to complete renovations on a separate investment property. The borrower’s mortgage broker immediately reached out to QuickLiquidity, who underwrite the loan request and issued a term sheet within only 48 hours.
Continuing QuickLiquidity’s mission to streamline the lending process, this loan was an asset-based mortgage which did not require any third-party appraisal, credit score requirement, or personal tax returns. By focusing on the intrinsic value of the property, QuickLiquidity allows real estate investors to obtain financing in days, not weeks or months.
“The investment real estate bridge loan space is incredibly competitive. So why do borrowers continuously choose to work with us?” asked A. Yoni Miller, Principal of QuickLiquidity. “It’s because we have a proven track record of closing time-sensitive transactions. We let our borrowers tell us what matters the most to them and then we create tailored loans to meet their specific needs. We care about what they care about.”
Have questions regarding 1st mortgage bridge loans? Give us a call right now at 561-221-0881.