Carson, California Private Equity Funded Loan
Property Type: Non-Owner-Occupied Single-Family Residence
Lien Position: 2nd Trust Deed
Loan Amount: $200,000.00
Appraised Value: $675,000.00
LTV: 12%
Loan Rate: 60%
Loan Type: Fixed Rate – Investment Purpose
Occupancy: Non-Owner Investment Purpose
Term: “24” Months Interest Only
Carson, California – Our Client/Borrower, was seeking a new $200,000.00 2nd Trust Deed Loan on her Non-Owner-Occupied Single-Family Residence that she operates as an Adult Day Care Center.
They were interested in expanding her business and intends to use all of the Net Proceeds from proposed $200,000.00 2nd Trust Deed Loan for her business.
Their business generates approximately $60,000.00 in monthly income in Carson, California.
The specifics on the 1st Trust Deed Loan are as follows:
Outstanding Balance: $202,000.00
Monthly Payment: $1,806.87
Interest Rate: 4.25
The 1st Trust Deed Loan is Impounded for Property Taxes and Insurance
The plan of payback is to either refinance or list and sell the Subject Property prior to the maturity date of the proposed loan in Carson, California.
We believe that the loan had many strong points.
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.
