Equity Cash-Out Bridge
Equity Cash-Out Loan for Single-Family Refinance in Keaau, Hawaii
- Loan Amount
- $231,000
- Loan-to-Value
- 60%
- Interest-Only Term
- 6 Months
- Private Loan Type
- Equity Cash-Out Bridge
- Approx. Funding Date
- September 26, 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, to finance a $231,000 cash-out refinance bridge loan secured by a single-family home in Keaau, HI. We funded the loan at a conservative 60% loan-to-value based on a $385,000 appraised property value. Proceeds were used to pay off a maturing loan and restart stalled mid-project renovations. Funds will be applied toward completing key upgrades, including kitchen and bathroom renovations, new flooring, drywall, and ceiling improvements, positioning the property for a higher market value. Upon completion of the improvements, the borrower plans to sell the property and repay the bridge loan. The subject property is approximately 683 square feet set on a 1-acre lot. The Borrower had good credit. The interest rate was 13%. The loan term was set at 6 months. This bridge loan was funded in September 2025.
Deal Highlights
- Borrower utilized a cash-out refinance bridge loan to cover a maturing loan.
- Property is a single family residence in Keaau, Hawaii Island.
- Loan proceeds addressed a funding shortfall and supported value-enhancing renovations.
- These are designed to maximize resale value.
- Exit strategy: Comple renovations and sell the property.
Property & Loan Details
- Property City
- Keaau
- Property State
- HI
- Loan Term (months)
- 6
- Lien Type
- 1st Mortgage
- Payment Type
- Interest Only
- Property Value
- $385,000
- Location Type
- Rural
- Property Condition
- Newly Renovated
- Building Square Footage
- 683
- Lot Square Footage
- 43,560
- Lot Acreage
- 1
- Borrower's Plan
- Rehab 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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