Equity Cash-Out Bridge
Equity Cash-Out Loan for SFR in Kealakekua, Hawaii
- Loan Amount
- $1,000,000
- Loan-to-Value
- 46.86%
- Loan-to-Completed Value
- 54.50%
- Interest-Only Term
- 9 Months
- Private Loan Type
- Equity Cash-Out Bridge
- Approx. Funding Date
- October 6, 2025
Deal Summary
Myers Capital Hawaii—a residential and commercial mortgage banking company and direct private lender—funded a $1,000,000 equity cash-out bridge loan with a construction holdback for a ground-up single-family home construction project in Kealakekua on Hawaii Island. The Borrower required funds to retire an existing loan and secure additional capital for construction. To increase leverage, we cross-collateralized a free-and-clear land parcel and financed 100% of the $440,000 construction budget. This structure provided the liquidity needed to complete the project. The loan carries a combined loan-to-after-repair value of 54.50% and a loan-to-value of 46.86%, based on a projected combined after-repair-value of $1,835,000 and a property value of $1,195,000. It offers strong collateral support while meeting the Borrower’s construction funding needs and positioning the home for completion and market sale. The subject property is approximately 1,301 square feet set on a 3.12-acre lot. The Borrower had good credit. The interest rate was 13%. The loan term was set at 9 months with interest guaranteed. This bridge loan was funded in October 2025.
Deal Highlights
- Borrower sought to refinance an existing loan and fund a ground-up home construction project.
- A larger loan amount was needed - we cross collateralized another land parcel in Kealakekua, Hawaii.
- The borrower leveraged equity through a cash-out bridge loan with a construction holdback.
- An experienced contractor, they will use the funds to complete the project.
- Exit Strategy: Finish construction, list the home for sale, and repay the loan.
Property & Loan Details
- Property Type
- Residential Land, Single Family Residence
- Property City
- Kealakekua
- Property State
- HI
- Loan Term (months)
- 9
- Lien Type
- 1st Mortgage
- Payment Type
- Interest Only
- Property Value
- $1,195,000
- Construction Budget
- $440,000
- Construction Budget Funded
- 100%
- Completed Value
- $1,835,000
- Property Neighborhood
- Kealakekua
- Location Type
- Rural
- Property Condition
- Brand New Build
- Building Square Footage
- 1,301
- Lot Square Footage
- 135,907
- Lot Acreage
- 3.12
- Borrower's Plan
- Build and Sell
- Exit Strategy
- Sale
- Borrower Credit Rating
- Good
- Interest Rate
- 13%
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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