Windsor Hills, California Limited Income Funded Loan
Property Type: Single Family Residence
Lien Position: 2nd Trust Deed
Loan Amount: $96,000.00
Appraised Value: $700,000.00
Loan Rate: 12%
Loan Type: Business Purpose
Occupancy: Occupancy Occupancy
Term: “36” Months Interest Only
Windsor Hills, California – Our client owns the Subject Property with her Grandmother and borrower who is the Granddaughter has an ownership interest together with her Mother, in Business, which is involved in the Promotion, Marketing and Event Booking Services for Gospel music and performing entertainers for their live events around the Southern California area.
The Borrower has informed us that a business opportunity has become available and she has determined that it represents a very good business decision to make the financial commitment. The net proceeds from the requested loan for $96,000.00 will be put toward the stated Business Purpose.
The Borrower also works as an educator and intends to continue her employment.
The current first trust deed was modified several years ago where the balance was permanently reduced down to $343,604.83 along with a very low 2% interest rate and a monthly payment of $1,173.96 that includes taxes and insurance. Windsor Hills, California
The Borrowers have more than enough monthly income to make the payment for the proposed 2nd Trust Deed together with all other financial obligations.
We believe that the loan has many strong points. The LTV for the loan is only 62%. The Subject Property has been owned by the Borrowers for nearly 60 years. The Subject Property is located in a very solid area. The property is well cared for and is in good condition. The Trust Deed Investment has a good rate of return with very little risk
The plan of payback is for the Borrowers to work diligently in improving their credit with the intention of obtaining either a replacement 2nd Trust Deed from an Institutional Lender or obtaining a refinancing of both loans with an Institutional 1st Trust Deed. Windsor Hills, California