Grand Terrace, California – Our Borrower was purchasing the Subject Property for $145,000.00 in Grand Terrace, California. Our Borrower was putting in $45,000.00 as a down payment. He also was going to deposit the additional necessary funds to cover all closing costs.
The LTV for the loan is 68%. The Borrower has a FICO score of 648. 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.
The LTV for the loan was 60% relative to the Subject Property’s Appraised Value. The property improvements and upgrades that our Borrower planed to make to the property would further increase the Subject Property’s value to approximately $215,000.00, and thus lower the LTV of the proposed loan for our company’s Investor. Grand Terrace, California.
Our Borrower intended to invest approximately $20,000.00 in improvements and upgrades, and further was looking to sell the Subject Property for approximately $215,000.00 within a few short months.
Due to our Borrower’s great rehab work and his long track record with our company and our Investors, we were able to quickly fund a $100,000.00 1st Trust Deed Loan at 10.99 with a “12” month term for our Borrower in Grand Terrace, 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 was very happy with the process. Grand Terrace, California
18034 Ventura Blvd Suite 244
Encino, California 91316