What are the reasons a borrower would need a hard money loan? We often get the question, “Why would a Real Estate Investor, Self Employed Individual or Business Owner need Hard Money?” Followed by, “Why would anyone pay those rates?” Well, after having underwritten and funded over 330 loans, we have learned there are…
Carlsbad, CA Download recent-transaction-51000-business-purpose-cash-out-carlsbad Property / Loan Information Property Type Residential Townhouse Lien Position 2nd TD Loan Amount $51,000 AVM Value $380,000 Occup Non-Owner Occ. Lender Rate 10.75% CLTV on AVM Value 70.04% Loan Type Business Purpose Cash Out Amortization Interest Only Due in 36 mos. Guaranteed Int. 6 months Loan Scenario: Analytical Manager/Borrower…
Gardena, CA Download recent-transaction-1267500-business-purpose-purchase-gardena-ca Property / Loan Information Property Type Comm/Industrial Lien Position 1st TD Loan Amount $1,267,500 Appraised Value $1.956Mil Occup Non-Owner Occ. Lender Rate 9.25% LTV on Appraised Value 64.18% Loan Type Business Purpose Purchase Amortization Interest Only Due in 36 mos. Guaranteed Int. 6 months Loan Scenario: Real Estate Investor/Borrower purchased this Industrial building for…