Deal Details
Private Loan Type
Purchase
Approx. Funding Date
11/07/2019
Property Type
Single Family Residence
Property City
Clovis
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Purchase Price
100%
Renovation Budget Funded
100%
Exit Strategy
Sale
Borrower Credit Rating
Excellent
Deal Summary
Arch Loans, a private lender, funded a $340,000 1st lien position private money loan for the acquisition of a single-family residence in Clovis, CA. The buyer will invest 50,000 to resell for 490,000. This property is structurally sound, but it needs a complete gut and rehab. This was seamless funding aided by the Borrowers’ Gold Status. Gold Status provides the Borrower with a line of credit that allows for 100% of the purchase and future rehab costs. This is the 8th loan funded with this particular Borrower. This SFR private money loan was funded in November 2019.