Inglewood, California Stated Income Funded Loan

Property Type: Single Family Residence

Lien Position: 1st Trust Deed

Loan Amount: $280,000.00

Appraised Value: $550,000.00

LTV: 51%

Loan Rate: 10%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “36” Months Interest Only

Home

In 2015 our Borrower contacted our company to initially fund him a loan on another property in Inglewood, California, that he inherited from his Mother, but due to property title issues, we were not able to arrange the loan on the requested property.  The alternative Subject Property was a rental property where the current Tenant was not paying the rent and further was being evicted, so we were not going to be able to inspect the interior of the property.

We were able to arrange a New 1st Trust Deed with one of our company’s Investors who was a well versed Real Estate Broker and was able to review our BPO (Broker Price Opinion) and determined a value for Subject Property to a high confidence level in Inglewood, California.