Recently Funded Hard Money Loan – National City: $150,000, 2nd TD, 60.24% CLTV, 10.50% Lender Rate

Borrower and real estate investor was seeking a cash-out 2nd TD on this 16-unit multi-family property in San Diego County. Proceeds from this loan were used to finish updating the units to allow for maximum rental income. The subject is a 16-unit apartment building in National City, CA.  The apartment mix is made up of 10…