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