Mentone, California Funded Fix & Flip Loan

Property Type: Single Family Residence

Lien Position: 1st Trust Deed

Loan Amount: $119,000.00

Appraised Value: $190,000.00

LTV: 62%

Loan Rate: 10.99%

Loan Type: Fixed Rate – Interest Only

Occupancy: Rented – Investment

Term: “12” Months Interest Only

Before

A Frame Style House Before Photo located in Mentone, California where our company arranged a 1st for $119,000.00 Trust Deed

After

A Frame Style House located in Mentone, California where our company arranged a 1st for $119,000.00 Trust Deed

Our Borrower purchased the subject property in Mentone, California for $170,000.00.  The estimated market value of the Subject Property at the time of purchase was $190,000.00, as our Borrower was purchasing the property under the current market value.  Our Borrower was looking to put in a down payment in the amount of $51,000.00. Mentone, California

Our Borrower had the necessary funds to finish any required repairs and improvements to the Subject Property.  The property improvements and upgrades that our Borrower planned to make to the Subject Property would further increase its value and thus lower the LTV of the proposed loan.  Our  Borrower intended to invest an additional $15,000.00 in improvements and upgrades and further was looking to sell the Subject Property for approximately $225,000.00 within 5 months from the date of purchase. Mentone, California

Due to all the strong factors with our Borrower’s loan request, we were able to obtain an Investor commitment to fund our Borrower’s $119,000.00 1st Trust Deed Loan at 10.99% in less than “2” weeks.