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

LTV: 43%

Loan Rate: 10%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “12” Months Interest Only

house

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