Single Family Residence
$30K hard money bridge loan secured by a 2nd trust deed on a highly custom built home in Guerneville, a quaint town in Sonoma County. The property size is approximately 2,600 square fee on a 1/2 acre lot. It has been a rental, but the Borrower needed the fund to finish preparing the home for resale. The estimated value is $800,000 with an existing 1st Mortgage of $586,000, which makes for a 77% Combined LTV. This private 2nd mortgage was funded in July 2014, and the Borrower sold the property which paid off the loan within 12 months.