Sherman Oaks, CA
Single Family Residence
The borrower owns and operates a nursing school in the LA area. Borrower has excellent credit and income of ~$1.2MM per year, that has been substantiated with bank statements. He has a substantial net worth backed by 6 properties in the San Fernando Valley and his home in Stevenson ranch. Borrower is in escrow to purchase the property; however, the traditional financing fell through given limited trade lines and falling just outside the desired debt-to-income ratio. Loan is anticipated to be re-financed out in the next 3 months. This is a non-owner-occupied investment property.