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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
04/12/2018
Property Type
Property City
Los Angeles
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$1,500,000
Previous Loan Balance
$250,000
Deal Summary
DML Capital, a direct lender for investment property bridge loans, funded a $200,000 1st lien position equity cash-out loan secured by a Child Day Care in Los Angeles, CA. The property was owned free and clear. This loan will fund repairs such as installing a new roof, a new paint job, and miscellaneous maintenance items. Additionally, the Borrowers plan to use the funds to do similar repairs on their rental property in Los Angeles. Their rental property was valued at $1.5 million and they currently owe $250K on it. This equity cash-out loan was funded in April 2018.
Funded By
DML Capital
Direct Lender for Investment Property Bridge loans in CA & WA | 1st or 2nd