The Challenge
The borrower approached us with a time sensitive acquisition loan for newly constructed property in Utah, with a hard close date just 20 days out. He was seeking our most competitive interest rate at a conservative 55% LTV.
Our team completed the initial deal screen within minutes of receiving the file and had the appraisal order out the door by end of day. Once we confirmed the borrower and property were a fit for our program, the mission was clear: close as fast as possible.
The Solution
We structured the loan to meet the borrower’s aggressive timeline while delivering the competitive terms he was seeking. The financing included a $552,335 loan at 55% LTV, secured by a newly constructed single-family rental in Spanish Fork, Utah. The loan featured a 10-year interest-only period followed by a 20-year amortization schedule.
The Outcome
The borrower came to Encore Finance looking for a lender that could provide both speed and certainty of execution. Encore delivered, upsizing the loan and closing two days ahead of the hard deadline. The sponsor returned within a month with a follow-up financing request. It’s exactly the kind of result our loans are built to deliver: fast, flexible execution that empowers borrowers to act decisively and keep their business moving forward.
Learn More
To learn more about how Encore Finance portfolio loans can support your investment strategy, reach out to us online.
