Recently Funded Loan – Sliverlake, CA


2325 Fargo St - Google Maps - Mozilla Firefox 162016 122941 PM.bmp

 

Property Type: “4” House Courtyard

Lien Position 1st Trust Deed
Loan Amount: $208,000.00
Appraised Value: $1,400,000.00
LTV: 13%
Loan Rate: 9%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: 12 Months Interest Only

The Borrower was in need of funds for a business opportunity that was presented to the Borrower. The Borrowers had 800 plus FICO scores, great income and owned the property Free & Clear. Due to time constraints they could not get a loan from their back due to time constraints. The property was just great, perfect condition, very desirable and was located on a street in Silverlake that overlooked the lake. The unique courtyard design made the property very charming. The Borrower had great credit and strong income but could not wait the time their big bank quoted them to close their loan. The total time from loan application to funding was just over ‘5” days. This loan is probably the cleanest loan we have seen in years, and oh yes, the Borrowers were thrilled with our service to them.

 

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