Training Question · Funding Hub

Training Question

Hello! Another question (shocker..lol) In the Training (Know the Game) Section E (Morby) is it possible to break down the deal even more? I'm a numbers person and I'm trying to figure out why TF Hub funded $317k which is more than the Seller Carry amount $275k. The Purchase Price was $1,100,000. If the senior loan was 75% of the $1,100,000 that's $825k. Closing Costs would be about 3% of PP = $33k. Add the $825k + $33k = $858k. Subtract the $858k from PP $1,100,000 = $242,000. Why did TF Hub fund $317k and not $242k? The Seller Carry would have to be AT LEAST $242k to pay us back plus extra costs (2nd closing costs, TC fee, TF Hub fee, walk-away cash if any). The $275k listed on the example would be about right. After this long winded question, why did we fund $317K? Where is that coming from and why isn't it the $242K? If you've gotten this far..thank you!

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Training Question