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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
09/13/2019
Property Type
Property City
San Leandro
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$505,000
Renovation Budget
$100,000
Borrower Credit Rating
Excellent
Deal Summary
ARCH Loans, a private lender, funded a $505,000 1st lien position hard money loan for the acquisition of a single-family residence in San Leandro, CA. It is located within the San Francisco bay area. The subject property was a failed rehab project- It has been gutted, but the initial flip came to a standstill. The acquisition price was $505,000 and the Borrower will invest $100k to finish the project and resell for $700k. This is the 16th loan that this Borrower has funded with Arch made possible in part by his existing line of credit. This SFR hard money loan was funded in September 2019.
Funded By
Arch Loans
Low and High Leverage Options, up to 90% of purchase price for fix & flip