Beaumont, California – Our returning Borrower who buys, Fixes and Flips properties requested that we again finance the purchase of another property he was purchasing for $129,000.00 in Beaumont, California. The appraised value was $155,000.00, so our Borrower was getting a really good deal.
The LTV for the loan is only 58%. The Borrower has a FICO score of 630. The property is located in both a strong rental and sales area. The property will go through upgrades & improvements that will increase its market value. The Trust Deed Investment has a good rate of return with very little risk in Beaumont, California.
He was intending to invest $38,700.00 as a down payment, in addition to depositing all additional necessary funds to cover closing costs into escrow. The LTV for the loan was only 58% relative to the Subject Property’s Appraised Value Beaumont, California. The $30,000.00 in property improvements and upgrades that our Borrower intended to make to the Subject Property would further increase its value over $200,000.00, and thus lower the LTV of the proposed loan. Beaumont, California.
Since our Borrower had obtained many prior loans from our company that were funded by our Investors and where everything worked out great, we had no difficulty in arranging the requested funds for a “12” month term at 10.99 interest only in Beaumont, California.
The plan of payback is to either sell the property or possibly to retain as a rental property in which a refinance of the loan will take place prior to the maturity of the loan.
The borrower is a return client and is always happy with our loan and funding process. Beaumont, California