Bloomington, California – Our Borrower was looking to purchase a new investment rental property and wanted to obtain the necessary purchase money from her current investment rental property in Bloomington, California, which was zoned for horses and livestock. Our Borrower was in the livestock business and her Tenant who was renting the Subject Property was agreeable to allow our Borrower to store some of her animals in the large back yard, so she didn’t want to sell the property.
Since the the LTV for the proposed new $145,000.00 1st Trust Deed Hard Money Loan was so low, and further where the monthly rental amount would cover ALL Subject Property’s monthly expenses, it was very easy for our company to arrange and fund the requested loan for a “24” month term at 10% interest only in Bloomington, California.
Our Borrower was able to move forward using the funds from our loan to close escrow on her new Investment property, which she was able to purchase at a below market value in Bloomington, California. She was very happy with our company’s loan and service.