Upland, California Funded Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $60,000.00
Appraised Value: $475,000.00
LTV: 15%
Loan Rate: 9%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “36” Months Interest Only

Our Borrower was in the process of making major upgrades to her rental property. There were unexpected costs overruns and she was in need of an additional $60,000.00 to complete the work to the property. Since the property was vacant, time was of the essence to complete the property renovations She had GREAT credit but had no provable income. Since the property was an investment property there were no Dodd-Frank income requirements to keep our company from funding the quested loan. The property was Free & Clear and our company had no trouble funding a new first trust deed for $60,000.00