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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
08/26/2023
Property Type
Property City
San Francisco
Property State
CA
Loan Term (months)
12
Lien Type
1st and 2nd
Payment Type
Interest Only
Loan-to-Value
55%
Location Type
Urban
Property Condition
Good
Occupancy at Closing
Tenant-Occupied
Number of Units
19
Borrower's Plan
Long-Term Rental
Exit Strategy
Refinance
Borrower Credit Rating
Excellent
Deal Summary
Security Financial Services, a direct private lending firm based in San Francisco, provided a $2,400,000 equity cash-out loan on 19 condos in San Francisco, CA. The loan is secured by 1st and 2nd position lien with a combined LTV of 55%. The Borrower needed to pull equity out of the property to acquire another investment property. The subject was in good condition and fully occupied at closing. The improvements were constructed in 2002 and are situated on a single parcel of land. The Borrower plans to refinance into permanent financing. This cash-out private money loan was funded in August 2023.
Funded By
Security Financial Services
Direct Lender for Northern California Property Investors | Established 1943