Picfair Village, California Funded Stated Income Loan

Property Type: Single Family Residence

Lien Position: 1st Trust Deed

Loan Amount: $280,000.00

Appraised Value: $560,000.00

LTV: 50%

Loan Rate: 10%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “36” Months Interest Only

Single Family Residence located in Picfair Village, California where our company funded 1st $280,000.00 Trust Deed

Picfair Village, California – In January 2017 a Mortgage Broker submitted her client’s loan request for a new $280,000.00 1st Trust Deed on a single-Family Residence, where the Owner/Borrower was renting out rooms to multiple people.  Most of the rent was paid in cash and the Borrower was not able to prove the amount of monthly rent received, but due to the low LTV for our loan we were able to still fund the loan.