Pasadena, California Funded Loan

Property Type: Single Family Residence

Lien Position: 2nd Trust Deed

Loan Amount: $100,000.00

Appraised Value: $525,000.00

LTV: 60%

Loan Rate: 11%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “36” Months Interest Only

Single Story Green House located in Pasadena, California where we funded a 2nd $200,000.00 Hard Money Loan

The Borrower needed money as soon as possible to take advantage of a business opportunity relating to his business and he needed it fast.  We were able to structure the loan as a Business Purpose loan secured by the Borrower’s personal residence.  Since there are State and Federal loans regulations relating to lending on a Borrower’s personal residence, complying with our investors lending requirements would be changing.   We were able to comply with all the government requirements and our investors lending requirements and were able to get the Borrower the funds he needed to complete his business transaction. Pasadena, California