Deal Details
Private Loan Type
Refinance
Approx. Funding Date
08/15/2025
Property Type
Single Family Residence
Property City
Richmond
Property State
VA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$411,000
Loan-to-Value
33%
Location Type
Suburban
Property Condition
Excellent
Occupancy at Closing
Vacant
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Good
Deal Summary
Gelt Financial, a direct hard money lender, funded a $125,000 senior-lien position mortgage for the refinance of a single-family home in Richmond, VA. The property’s total value was roughly $411,000, so our loan-to-value was 33%. The Borrower did not provide income verification, and plans to do a light rehab and sell the property. The subject property was in excellent condition at closing. The interest rate was 12% floating. The loan term was set at 12 months. This loan was funded in August 2025.
Funded By
Gelt Financial, LLC
Creative Private Financing for Commercial Real Estate since 1989