Castro Valley, Oakland California, CA
Commercial Land, Residential Land
Equity Cash Out09/18/2014
$125,000 hard money equity cash out bridge loan secured by 100+ acres of raw land in Castro Valley, just 10 miles south of Oakland. The Borrower owned the property free-and-clear and needed to cash out some funds for development costs. The appraised value of the property was $1.6M so the LTV is just 8%. Noelle was able to fund this loan 3 weeks after receipt of the application. The interest rate on this 1st position bridge loan is 9.99%. The loan term is 3 years.