Alhambra, California Funded Loan

Property Type: Single Family Residence

Lien Position: 2nd Trust Deed

Loan Amount: $70,000.00

Appraised Value: $475,000.00

LTV: 62%

Loan Rate: 11%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “24” Months Interest Only

Yellow and White Single Family house located in Alhambra, California where our company arranged a $70,000.00 2nd Trust Deed Hard Money Loan

The Borrower was in need of funds to make general property improvements to a single-family rental property in Alhambra, California .  The property had never had any upgrades since it was built and was in need of major improvements. When he contacted our company, he was so frustrated from his unpleasant experience with several major banks, where each bank put him through “paperwork hell” and never funded his loan. He had great credit but was not able to obtain a 2nd Trust Deed from any bank due to the subject property being vacant.  Our company funded a new 2nd Trust Deed for $70,000.00 at 11% in less than “2” weeks behind his current 1st Trust Deed.  He was able to make all the necessary improvements and got top rent for his property in Alhambra, California.