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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
10/18/2018
Property Type
Single Family Residence
Property City
La Canada
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
60%
Deal Summary
Private Mortgage Fund, a direct California private lender, funded a $4,000,000 1st lien position equity cash-out loan secured by a high-end luxury single-family residence in La Canada, CA. The subject property was held by a foreign national who needed to pull cash out for business purposes. PMF was able to value and lend at 60% loan-to-value with no appraisal, no credit, and no prepay penalty. This SFR equity cash-out loan was funded in October 2018.
Funded By
Private Mortgage Fund, LLC
CA Direct Lender Funding in Less Than 1 Week with No Prepayment Penalty