Los Angeles, California Funded Loan
Los Angeles, California
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $275,000.00
Appraised Value: $550,000.00
Loan Rate: 10%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “12” Months Interest Only
Los Angeles, California – The Borrower had requested that our company provide purchase financing a year earlier when he purchased the subject property for a great deal at a short sale intending to do a complete rehab of the property. Following the purchase of the property a family emergency required the Borrower to have to travel to Mexico for a number of months, which caused the project to be put on hold. When the Borrower returned it was determined that additional funds would be needed to complete the total rehab of the subject property.
Since the Investor needed the funds back at loan maturity for another commitment, the decision was made to refinance the current 1st Trust Deed with a larger loan that would provide the Borrower the necessary funds to complete the project, The total time from loan application to funding was just over ‘15” days. The timing of the loan and the funds provided from the loan allowed the Borrower to not have any additional delays with the project. Los Angeles, 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. Los Angeles, California.