Equity Cash-Out Bridge Loan for SFR in Honolulu, Hawaii
Loan Amount
$250,000
Property Value
$2,300,000
Loan To Value
10.87%
Interest Rate
13.75%
Loan Term
12 months
Payment Type
Interest Only
Rate Type
Fixed
Closed Date
05/22/2025
Private Loan Type
Equity Cash Out
Approx. Funding Date
05/22/2025
Property Type
Single Family Residence
Loan-to-Value
10.87%
Loan Term
12 months
Interest Rate
13.75%
Deal Summary
Myers Capital Hawaii partnered with its affiliate, Koa Mortgage Fund, to fund a $250,000 bridge loan secured by a single-family home in Honolulu, Hawaii. The loan featured a highly conservative loan-to-value ratio of 10.87%, based on an estimated property value of $2,300,000.
Although significant equity existed in the property, liquid capital was needed to complete targeted renovations aimed at improving curb appeal and overall marketability. The bridge loan proceeds will be directly used to fund these improvements and prepare the home for sale.
The subject property was in good condition and vacant at closing, comprising approximately 3,782 square feet set on a 10,500-square-foot lot. The Borrower plans 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.
Deal Highlights
- Equity was accessed 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.
Loan Originator
Reed Myers
Principal, Myers Capital Hawaii
Reed is the Principal of Myers Capital Hawaii, an award-winning, privately-owned residential and commercial mortgage banking company. As a second-generation family business owner, Reed has been personally involved in over $1.5 billion in loan originations, helping thousands of clients throughout the country.
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