Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
04/01/2019
Property Type
Mixed-Use
Property City
Stockton
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
ARCH Loans, a private lender, funded a $495,000 1st lien position equity cash-out loan for a 3-parcel mixed-use property in Stockton, California. The renovations will allow an increase in the Borrowers’ rental income. This Client has an extensive book of business with our company. We completed this transaction in only 7 days. The exit strategy of our Client will be to refinance the property after completion of the renovation and the rental stabilization to qualify for a bank loan. This was a smooth transaction for the client as well as for our company. This equity cash-out loan was funded in April 2019.