Winnetka, California Funded Hard Money Loan

Property Type: Condominium

Lien Position: 1st Trust Deed

Loan Amount: $155,000.00

Appraised Value: $281,000.00

LTV: 55%

Loan Rate: 9%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “24” Months Interest Only

Encino, California

Winnetka, California In February 2018 our Borrower was referred to us by a prior Borrower of our company since she heard that she was having a hard time getting financing to purchase a Condominium in Winnetka, California and thought that we might be able to help her.  The Borrower had just moved her from Russia, had no way to prove her income but had available cash to put down a large down payment.  We were able to arrange a new $155,000.00 1st Trust Deed at 9% for 2 years.  The monthly rental amount she received covered all property expenses and provided her monthly net income.