$186,000 Home Acquisition in Kent, WA

Mortgage Equities Inc. recently financed the purchase of a rental home in Kent, WA. The 1890 square foot split level was built in 1978 and consists of 3 bedrooms/2 bathrooms. The house needed minor cosmetic updates including new paint, floor coverings, and bathroom fixtures. In consideration of the borrower’s 40% down payment, Mortgage Equities was able to provide a two year bridge loan at a very favorable interest rate. The updates have since been completed and the borrower has successfully rented the property.