Palm Desert, California Funded Loan
Palm Desert, California
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $303,000.00
Appraised Value: $500,000.00
Loan Rate: 9%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “36” Months Interest Only
Palm Desert, California – Our Borrower’s Mother owned a very nice home in Palm Desert, California. She had a Reverse Mortgage recorded against the property and the lender was requiring that the loan be paid off in full following the death of his Mother.
Our client had tried unsuccessfully to get a loan from one of the big banks, but due to the reverse mortgage already being in foreclosure he was not able to get financing anywhere. He was very skeptical of our company being able to provide the needed financing.
We assured him that the pending foreclosure would not be an impediment to funding a loan for him. We were able to provide him a loan for $303,000.00 at an interest rate of 9% for “36” months and pay off the Reverse Mortgage loan………problem solved in Palm Desert, California.
We’re aware that the process of applying for a residential hard money loan can be a stressful experience. We don’t ask our borrowers to wait weeks and weeks as credit histories and credit payment records are investigated. We won’t call you numerous times asking about credit items we have discovered on your credit report and how it might prevent you from obtaining the residential hard money loan you need.
We also don’t ask borrowers to jump through hoops searching for tax returns and associated documentation to prove income.
We make it as easy as possible for borrowers to get a residential hard money loan in Los Angeles. We base our mortgage loans on the equity borrowers have in their properties, so borrowers won’t have the same bad experience they’ve had in the past with institutional lenders.
We always try to make the residential hard money loan process as easy and pleasant as possible.