Lincoln Heights, California Funded Stated Income Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $100,000.00
Appraised Value: $555,000.00
Loan Rate: 9%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “36” Months Interest Only
Lincoln Heights, California – Our client purchased the Subject Property for $370,000.00 in 2012. Quantarium a real estate industry valuation company estimated the current market value of the Subject Property at: $555,686…we have attached a print out of Quantarium’s valuation. The Borrower had a good FICO score. The property is currently rented for $2,400.00 per month. Lincoln Heights, California.
The Subject Property has substantial monthly cash flow which will easily allow for the payment of the monthly mortgage payment. The borrower owns several other properties and has been a successful real estate investor. He should prove to be a very solid Borrower. We believed that the loan had many strong points. The LTV for the loan is extremely low at only 18%. The Borrower had good credit. The property is located in an up and coming area in Lincoln Heights, California. The property is well cared for and is in very good condition. The Trust Deed Investment has a good rate of return with little to no risk
The plan of payback is to refinance the loan prior to the maturity date where our client will obtain an institutional loan. $100,000.00 1st Trust Deed Hard Money Loan at 9% in Lincoln Heights, California. Equity in the Subject Property we had no trouble arranging.