Upland, California Funded Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $60,000.00
Appraised Value: $475,000.00
Loan Rate: 9%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “36” Months Interest Only
Upland, California – 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. Upland, California.
Our residential hard money loans are designed for borrowers with poor credit, bad credit, or limited income who need money to purchase a home, refinance a home, or to refinance an existing investment property.
Borrowers can use their existing rental properties to pay off existing debt or cash out for additional investment purposes. In addition to funding hard money residential loans, we also are hard money lenders for apartment buildings, commercial properties, and industrial properties. We can structure our hard money loans to an individual, a corporation, an LLC, a partnership or to a trust. In today’s Los Angeles real estate environment, homebuyers need to move fast to take advantage of buying opportunities. We can move as fast as necessary to help real estate buyers achieve their financial goals.
We believe that just because borrowers have bad credit or low income, they should not be prevented from getting the residential hard money loan they need.