Done Deal! Hard Money Loan in Pico Rivera: $1,500,000 @ 9.00%, 1st TD, Cash-Out, 60.00% LTV

Borrower is real estate investor and 30 year experienced developer will be using these loan proceeds to 1) payoff and existing 1st mortgage and 2) for ground up construction to develop a fully entitled and permitted 4-unit condo project in the City of Pico Rivera.   Grading is complete and the site is shovel ready which is…

Recently Funded Blanket Loan in Escondido: $805,000 1st TD, 55.52% LTV, Purchase, 9.25% Lender Rate

Borrower sought a 1st TD blanket Loan on the subject SFR properties which are being used by a Non-Profit to house  court placed abused minors.  The borrower is on the Board of the Non-Profit, “Circle of Friends” and together they have the opportunity to purchase these two SFR’s that they have been operating in for…