View Heights, California Funded Hard Money Loan

Property Type: Single Family Residence

Lien Position: 2nd Trust Deed

Loan Amount: $50,000.00

Appraised Value: $570,000.00

LTV: 56%

Loan Rate: 12%

Loan Type: Business Purpose

Occupancy: Non-Owner Occupancy

Term: 12 Months Interest Only

Single Story Peach house located in View Heights, California where our company arranged a 1st $50,000.00 Trust Deed

View Heights, California – Our company was contacted in November 2015 by a Mortgage Broker whose clients were two sisters who inherited a Single Family Residence in View Heights, California that they were currently renting to a tenant under a 3 year lease.  One of the Sisters was looking to open a Beauty Parlor in the area and wanted to use the equity in the Subject Property to obtain the funds to open the new business.  Her Sister was agreeable to using the Subject Property to raise the business funds.  We had no problem at all arranging the requested $50,000.00 2nd Trust Deed loan in less than 10 days.  The Sister was able to open the Business she had wanted to open for over 10 years.