West Hollywood, California Funded Hard Money Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $208,000.00
Appraised Value: $750,000.00
Loan Rate: 9%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “36” Months Interest Only
West Hollywood, California – Our Borrower was a U S Citizen, but earned almost all of his income in Russia, and at the time he requested our company arrange financing, he had a Great deal to buy another investment property but only had “14” days to perform and close escrow. Our Borrower was very strong, having invested over $2,500,000.00 into local real estate in the preceding “24” months. In addition, he had over $1,500,000.00 on deposit in US banks.
The Subject Property was located in a strong rental area of West Hollywood, California and had been owned and rented out by our Borrower for the prior “5” year period.
Since time was of the essence, we went into action to compile all the necessary documents to present his loan request to our company’s Investors.
We were able to arrange a new 1st Trust Deed Hard Money Loan at 9% with a “36” month term
The total time from loan application to funding was only “6” days, and our Borrower was able to close escrow on his Great real estate investment. West Hollywood, California.