Hollywood, California Funded Hard Money Loan
Property Type: Duplex
Lien Position: 1st Trust Deed
Loan Amount: $540,000.00
Appraised Value: $830,000.00
Loan Rate: 10.50%
Loan Type: Business Purpose
Occupancy: Non-Owner Occupancy
Term: “12” Months Interest Only
Hollywood, California – The Borrower was in need of funds for a business opportunity that was presented to the Borrower. The Borrowers had 800 plus FICO scores, great income and owned the property Free & Clear. Due to time constraints they could not get a loan from their back due to time constraints. The property was just great, perfect condition, very desirable and was located on a street in Hollywood, California.
The unique courtyard design made the property very charming. The Borrower had great credit and strong income but could not wait the time their big bank quoted them to close their loan. The total time from loan application to funding was just over ‘5” days. This loan is probably the cleanest loan we have seen in years, and oh yes, the Borrowers were thrilled with our service to them. Hollywood, California.
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.