Baldwin Hills, California Funded Loan

Property Type: Single Family Residence

Lien Position: 2nd Trust Deed

Loan Amount: $40,000.00

Appraised Value: $570,000.00

LTV: 54%

Loan Rate: 12%

Loan Type: Business Purpose

Occupancy: Non-Owner Occupancy

Term: “24” Months Interest Only

Two Sisters inherited the Subject Property from their parents and wanted to obtain capital to open a business and were looking to borrower on the inherited rental property.  Since there was substantial equity in the Subject Property and further that the monthly rent would more than cover all monthly expenses which included our proposed loan, we were able to arrange the requested 2nd Trust Deed loan to provide them the needed funds.