RECENT FUNDING'S

$3.2 Million / Cash-Out Refinance / Westchester, NY

(Light Industrial Building / No Appraisal & No Income Documents)

1st Access Capital Funded $3.2 Million on a refinance cash-out transaction. Funds from proceeds were used to pay off current existing mortgage which was coming due & cash out to the borrower for working capital. The interest only loan is for 2 years. This loan funded within 3 weeks of application.

$1.7 Million / Purchase for Construction / Brooklyn, NY

(2 Family + Lot / No Appraisal & No Income Documents)

1st Access Capital Funded $1.7 Million on a purchase transaction with sales price of $3 Million. Borrower, who is a seasoned contractor, had $3,100,000 cash for down-payment which would have left him with Zero funds to knock down and complete ground up construction of a 6 story mixed-use building after purchase closing. With our $1.7 Million Capital infusion at closing, borrower now has $1.4 Million left for construction. The interest only loan is for 12 months with option to renew after the the one year term. This transaction funded in 5 business days after application.

$3 Million / Cash-Out Refinance / Manhattan, NYC

(2 Mixed-Use Building's / No Appraisal & No Income Documents)

1st Access Capital Funded $3 Million on a refinance cash-out transaction secured by 2 mixed-use building's in mid-town NYC. The collateral is comprised of two 5 story retail & residential units. Cash out funds were used for working capital and additional real estate acquisition purposes. The interest only loan is for 16 months. This transaction funded within 2 weeks of application.

$1,350,000 / Refinance for Rehab / NC

(3 One Family Dwelling's / Appraisal Required)

1st Access Capital Funded $1,350,000  to payoff existing 1st private mortgage lien of $285,000 and $1,038,000 for the completion of existing construction project on 3 one family dwelling's. Experienced developer ran out of fund's in the middle of construction, and needed quick capital to finish his project's. The interest only loan is for 16 months. This loan funded within 2 weeks of application.

$552,000 / Cash-Out Refinance / Brooklyn, NY

(Mixed-Use Building / No Appraisal & No Income Documents)

1st Access Capital Funded $552,000 on a refinance cash-out transaction secured by mixed-use property. The building consist's of 4 residential units and 1 owner-user retail space. The cash-out used was to expand borrower's business and pay-off existing private mortgage lien. The interest only loan is for 12 months with option to renew after 1 year term. This loan funded within 2 weeks of application.

$900,000 / Cash-Out Refinance / Manhattan, NYC

(Mixed-Use Building / No Appraisal & No Income Documents)

1st Access Capital Funded $900,000 on a refinance cash-out transaction secured by a mixed-use building. The building consist's of 9 residential apartments and 1 owner-user retail space. This cash-out refinance was used to fix building violations, pay-off tax liens & upgrade/rehab the building. The interest only loan is for 2 years with option to renew. This loan funded within 2 weeks of application.

$350,000 / Purchase / Bronx, NY

(Office Building / No Appraisal & No Income Documents)

1st Access Capital Funded $350,000 on a purchase secured by a 2 story commercial office building & parking lot. The borrower would seek to convert property into a car wash. The interest only loan is for 12 months with an option to renew. This loan funded within 2 weeks of application. 

$398,000 / Purchase For Fix & Flip / Long Island, NY

(1 Family Investment Property / No Appraisal & No Income Documents)

1st Access Capital Funded $398,000 on a purchase secured by a 1 family investment rehab property. Borrower, who is a seasoned developer/contractor, only had 5 days left before his contract of sale expired when he was introduced to us. Bank selling REO property refused to extend sales contract. This loan funded within 5 days of application.

$500,000 / Cash-Out Refinance / Chelsea, NY

(Mixed-Use Building / No Appraisal & No Income Documents)

1st Access Capital Funded $500,000 on a refinance cash-out transaction secured by a Mixed-Use property. This 4 story building consist's of  6 residential units and 1 retail space. The proceeds from cash-out funds were used to pay-off back taxes and rehab/upgrade the property. At the request of the borrower, we also took a 12 months interest reserve from loan proceeds so borrower did not need to make mortgage payments for 12 months. The interest only loan is for 2 years. This loan funded within 8 business day of application.  

$325,000 / Cash-Out Refinance / Brooklyn, NY

(Mixed-Use Building / No Appraisal & No Income Documents)

1st Access Capital Funded $325,000 on a refinance cash-out transaction secured by a mixed-use building. This 3 story building consist's of 2 residential units and 1 retail space. The proceeds from cash-out funds were used for paying off judgement liens and debt consolidation. This interest only loan is for 12 months with an option to renew after the 1 year term. This loan funded within 2 weeks of application.

$380,000 / Cash-Out Refinance / Brooklyn, NY

(Multi-Family Building / No Appraisal & No Income Documents)

1st Access Capital Funded $380,000 on a refinance cash-out transaction secured by Two 3 story multi-family buildings. Both buildings consist's of a total of 12 residential units. The proceeds from cash-out funds were used for paying off existing liens and judgements. This interest only loan is for 12 months with an option to renew for an additional 12 months. A 12 month interest reserve for mortgage payments was also implemented at the borrower's request. This loan funded within 2 weeks of application.