Equity Cash-Out Bridge
Equity Cash-Out Bridge Loan for SFR in Honolulu, Hawaii
- Loan Amount
- $250,000
- Loan-to-Value
- 10.87%
- Interest-Only Term
- 12 Months
- Private Loan Type
- Equity Cash-Out Bridge
- Approx. Funding Date
- May 22, 2025
- Property Type
- Single Family Residence
Deal Summary
Myers Capital Hawaii, a residential and commercial mortgage banking company and direct private lender, partnered with its affiliate, Koa Mortgage Fund—a pooled mortgage debt fund—to fund a $250,000 bridge loan secured by a single-family home in Honolulu, Hawaii. The loan had a conservative loan-to-value of 10.87%, based on an estimated property value of $2,300,000. Although the Borrowers had significant equity in the property, they lacked the liquid capital needed to complete targeted renovations that would improve curb appeal and overall marketability. The bridge loan proceeds will be used to fund these improvements and prepare the home for sale. The subject property was in good condition and vacant at closing. It is approximately 3,782 square feet set on a 10,500-square-foot lot. The Borrower had good credit. They plan to sell the property as an exit strategy upon completion of the renovation. The loan carried a 13.75% interest rate on a 12-month term, with 12 months of guaranteed interest. This bridge loan was funded in May 2025.
Deal Highlights
- Borrowers accessed equity from a free-and-clear single-family home in Honolulu.
- Funds will be used for strategic upgrades and value-add improvements to enhance resale value.
- Exit Strategy: Complete renovations, sell the property, and repay the bridge loan.
Property & Loan Details
- Property City
- Honolulu
- Property State
- HI
- Loan Term (months)
- 12
- Lien Type
- 1st Mortgage
- Payment Type
- Interest Only
- Property Value
- $2,300,000
- Location Type
- Suburban
- Property Condition
- Good
- Occupancy at Closing
- Vacant
- Building Square Footage
- 3,782
- Lot Square Footage
- 10,500
- Lot Acreage
- 0.24
- Borrower's Plan
- Rehab and Sell
- Exit Strategy
- Sale
- Borrower Credit Rating
- Good
- Interest Rate
- 13.75%
Loan Originator
Reed Myers
Principal
Reed is also Principal of Myers Capital, an award-winning, privately-owned residential and commercial mortgage banking company and direct private lender based in Honolulu, Hawaii. As a second-generation family business owner, Reed is personally involved in over $2 billion in loan originations, helping thousands of clients throughout the country. He holds active mortgage loan origination licenses in Hawaii and multiple states. He is also an experienced real estate investor throughout Hawaii and the mainland. Myers Capital provides efficient mortgage lending and real estate advisory services in 42 states.
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