SFR and Adjacent unimproved lot in Riverside, CA
Loan Amount: $200,000 Rate: 7.99% – 8.99% step rate Appraisal Value: $445,000 Term: 24 months Lien Position: First The Borrower is a real estate investor and developer from out of State. The SFR will provide rental income while the adjacent land may be developed...
Four-unit income property in Redding, CA
Loan Amount: $158,000 Rate: 9.25% to 10.25% step rate Appraisal Value: $300,000 Term: 24 months Lien Position: First A Fast turn-around for this loan. The existing loan was in default and a Foreclosure sale was scheduled for Monday morning. We underwrote the loan and...
Scottsdale, Pinnacle Peak Country Club
Loan Amount: $350,000 Rate: 8.25% Appraisal Value: $700,000 Term: 6 months Lien Position: First The Borrower is a fix and flip real estate developer of high-end properties in Maricopa County. The properties are remodeled and placed on the market. We have closed a few...
Four-unit Income Property in Venice, CA
Loan Amount: $300,000 Rate: 7.99% to 8.99% step rate Appraisal Value: $1,300,000 Term: 24 months Lien Position: First A fast turnaround. The borrower needed to refinance the property and time was running out. This loan submission was received on a Thursday, and the...