Toluca Lake, California Funded Loan

Property Type: Condominium

Lien Position: 1st Trust Deed

Loan Amount: $60,000.00

Appraised Value: $400,000.00

LTV: 15%

Loan Rate: 9%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “24” Months Interest Only

Condominium located in Toluca Lake, California where our company funded a $60,000.00 Hard Money 1st Trust Deed

The Borrower was in need of funds to make major improvements to his rental property located in the Toluca Lake, California. He had purchased the Subject Property condo several years ago where he paid cash that he had received from the sale of a condo he owned in New York City. The property taxes had not been paid in several years and the condo was in bad condition due to a former tenant that caused major damage. The Borrower had difficulty in proving income but he did have 100% equity in his condo when he came to our company for financing. The total time from loan application to funding was just over 1 week and the Borrower was very happy with the loan and our company’s service.