El Monte, California Funded Loan

El Monte, California – Our Client, has a great opportunity to immediately purchase a Tri-Plex property, and since the client doesn’t currently have the funds for the Down Payment, he is looking to obtain the Down Payment funds as a 2^nd Trust Deed Loan on his rental Tri-Plex in El Monte, California.

The borrower had informed us that the combined monthly rental from all four units is: $5,075.00.

The Proposed monthly Expenses that includes the new 2^nd Trust Deed Loan are as follows:

1^st Trust Deed Loan Payment:             $1,709.61

2^nd Trust Deed Loan Payment:            $1,970.83

Property Taxes:                                   Impounded in the 1^st Trust Deed Payment

Hazard Insurance:                               Impounded in the 1^st Trust Deed Payment

Total Monthly Expenses:                   $3,680.44

 Since there is currently $5,075.00 in Monthly Rental Income generated by the Subject Property, that after the above listed expenses, there will still be $1,394.56 in positive monthly rental income to our client in El Monte, California.

 We believe that the proposed $215,000.00 2^nd Trust Deed Loan had many strong points.

Our residential hard money loans are designed to assist borrowers obtain real estate financing especially after their home loan applications have been declined by the banks due to credit or income issues.  Our loans are flexible on income and credit, and based on property equity.