2-unit Investment Purchase Northern California
Loan Amount: $299,400 Rate: 8.75% Appraisal Value: $499,000 Term: 60 months Lien Position: First This borrower had a great opportunity to purchase a rental property with two units adjacent to another rental they had. We were able to provide a 60 month loan, fixed for...
Grocery Store in Northern California
Loan Amount: $210,500 Rate: 8.75% Appraisal Value: $500,000 Term: 36 months Lien Position: First Our borrower purchased this store in 2005. While he had never been late on a payment, the loan was no longer bankable. We were asked to provide a 36 month bridge loan...
5 Units in the heart of Palm Springs
Loan Amount: $244,750(1st) / $44,500(2nd) Rate: 8.75%(1st) / 12.00%(2nd) Appraisal Value: $445,000 Term: 36 months Lien Position: First This borrower plans to rehab the units as they become available and possibly convert 1 or 2 into vacation rentals. Since he would...
