Recently Funded Hard Money Loan – Torrance: $750,000, 1st TD, 52.48% LTV, 9.00% Lender

Successful business owner was seeking a cash-out 1st TD on this owner occupied single family residence the Hollywood Riveria section of Torrance, CA.  Proceeds from this loan were to be used to payoff an existing 1st with the excess going towards his business  Motor Sports Classics.  Borrower had business for over 10 years. The subject…

Recently Funded Hard Money Loan – San Pedro: $260,000, 1st TD, 37.14% LTV, 9.00% Lender

Borrowers were seeking a cash-out 1st TD Bridge Loan on their current primary residence in San Pedro in Los Angeles County.  The funds from this Bridge Loan were to payoff an existing 1st TD and help to fund the purchase of their new out-of-state primary residence.  Borrower plans to sell this San Pedro property within…

Recently Funded Hard Money Loan – Simi Valley: $60,000, 2nd TD, 62.90% CLTV, 10.50% Lender

Real estate investor and 19-year computer technician employee with the same company was seeking a cash-out 2nd TD to invest back into this non-owner occupied Simi Valley SFR in Ventura County. The subject property is a 3,163 sf contemporary designed SFR that sits on a large 10,454 SF corner lot.  The property consists of 8…