Altadena, California Funded Hard Money Loan

Property Type: “4” Units

Lien Position: 2nd Trust Deed

Loan Amount: $125,000.00

Appraised Value: $960,000.00

LTV: 49%

Loan Rate: 12%

Loan Type: Business Purpose

Occupancy: Owner Occupancy

Term: “18” Months Interest Only

Two Story Green Craftsman style 4-Plex located in Atladena, California where our company funded a $135,000.00 2nd Trust Deed

Atladena, California – Our Borrower was introduced to our company by her Mortgage Broker in February 2015, when she wanted to get a new 2nd Trust Deed on her Altadena, California property to raise funds for her business.  The Borrower had good credit, but had difficulty in fully documenting her income.  Since she lived in one unit and rented out the other 3 units there was sufficient monthly income to pay all property expenses, including our proposed $125,000.00 2nd Trust Deed in Atladena, California.  The property was in good condition and located in a very desirable area.  We were able to properly confirm and document her business and her use of the funds as a designated Business purpose so as to comply with the required government laws.  The total time from loan application to funding was under 10 days in Atladena, California.