East Los Angeles, California Funded Loan

Property Type: “6” Unit Apartment Buiding

Lien Position: 1st Trust Deed

Loan Amount: $485,000.00

Appraised Value: $833,000.00

LTV: 57%

Loan Rate: 11%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “24” Months Interest Only

East Los Angeles, California Apartment Building

The Borrower had negotiated the purchase of the “6” unit apartment building in East Los Angeles, California.  He was short of funds at the time and didn’t have sufficient equity in any of the other properties he currently owned so was requesting that we look to the substantial equity that he was picking up as security for our loan as soon as he closed escrow. Our investor agreed to credit him the purchase equity and our company was able to structure a new 1st Trust Deed for $485,000.00 with only a 10% down payment from the Borrower.