Rancho Cucamonga, California Funded Loan
Rancho Cucamonga, California
Property Type: Single Family Residence
Lien Position: 2nd Trust Deed
Loan Amount: $50,000.00
Appraised Value: $780,000.00
Loan Rate: 12%
Loan Type: Investment Purpose
Occupancy: Owner Occupancy
Term: 24 Months Interest Only
Rancho Cucamonga, California – Our Clients/Borrowers are the parents of an Escrow Officer that we often work with and she introduced her parents to our company since her Father who owns a Trucking Business currently has great deal to purchase an additional 18-Wheeler Truck at a great price for his Trucking Business. Due to time constrictions on the window of opportunity to purchase the “18-Wheeler Truck” the borrower does not have the time to arrange traditional bank financing. Rancho Cucamonga, California.
The Subject Property is a beautiful house in a great neighborhood in Ranch Cucamonga, California. The requested $50,000.00 2nd Trust Deed Loan qualifies as a Business Purpose Loan since it will be fully documented and where the Net Proceeds will be payable to the borrowers Trucking Company where it will be used to purchase the desired new “18-wheeler truck”.
The LTV for the loan is only 53%. The Borrowers had good Credit & Income. The property is located in a very good neighborhood. The property is well cared for and is in very good condition. The Trust Deed Investment had a good rate of return with very little risk
The Borrowers have good Credit and Income and the current $362,949.00 1st Trust Deed FNMA “30” Year loan has a low interest rate.
The plan of payback is to pay the loan off before the maturity date. Rancho Cucamonga, California.