Bell Gardens, California Funded Fix & Flip Loan
Bell Gardens, California
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $105,500.00
Appraised Value: $185,000.00
Loan Rate: 10.99%
Loan Type: Fixed Rate – Fix & Flip
Term: “12” Months Interest Only
Bell Gardens, California – Our Borrower was purchasing the Subject Property for $149,000.00 in Bell Gardens, California. At the time of purchase, the Subject Property had an Appraised Value of $185,000.00. Our Borrower was putting in $43,500.00 as a down payment in addition to funds to cover all closing costs. He had the required funds to pay for all repairs and improvements.
The LTV for the loan was 57% relative to the Subject Property’s Appraised Value and 71% LTV relative to the purchase price. The repairs and improvements that our Borrower planned to make to the Subject Property would further increase its value to approximately $235,000.00, and thus lower the LTV of the proposed loan for our company’s Investor. Bell Gardens, California.
Our Borrower intended to invest approximately $30,000.00 in improvements and upgrades, and further was looking to sell the Subject Property for approximately $235,000.00 within a few months.
Due to our Borrower’s long history with our company and his great rehab experience, we were able to quickly fund a $105,500.00 1st Trust Deed Loan at 10.99 with a “12” month term for our Borrower in Bell Gardens, California.
$105,500.00 1st Trust Deed Fix & Flip Loan in Bell Gardens, California. They made a profit when he sold after all repair and upgrade work
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.