Montebello, California Hard Money Funded Loan
Property Type: 4-Plex
Lien Position: 1st Trust Deed
Loan Amount: $300,000.00
Appraised Value: $695,000.00
Loan Rate: 10%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “12” Months Interest Only
Our Borrower was referred to our company in September 2016 to finance the purchase of another property she was looking to purchase in Monterey Park, California. She owned a 4-Plex Free & Clear in Montebello, California and wanted to get a loan on that property to obtain the down payment for the purchase of the “other” property.
We arranged the loan to obtain the down payment and we also financed the purchase of the “Other” property. We were able to arrange for “1” Investor to fund both loans for the Borrower, which assisted in the purchase escrow closing on time.
Our residential hard money loans are designed for borrowers with poor credit, bad credit, or limited income who need money to purchase a home, refinance a home, or to refinance an existing investment property.
Borrowers can use their existing rental properties to pay off existing debt or cash out for additional investment purposes. In addition to funding hard money residential loans, we also are hard money lenders for apartment buildings, commercial properties, and industrial properties. We can structure our hard money loans to an individual, a corporation, an LLC, a partnership or to a trust. In today’s Los Angeles real estate environment, homebuyers need to move fast to take advantage of buying opportunities. We can move as fast as necessary to help real estate buyers achieve their financial goals.
We believe that just because borrowers have bad credit or low income, they should not be prevented from getting the residential hard money loan they need.