Private Money Cash Out 2nd Loan for NOPA Apartment Building

Funded by Security Financial Services

San Francisco, CA



2nd Mortgage

Transaction by
Security Financial Services
Private money 2nd mortgage secured by a 6-unit apartment complex in San Francisco’s NOPA neighborhood. The Borrower needed the funds to invest in another property acquisition. The estimated value is $2.3M. With the existing 1st mortgage balance at a little under $1.1M, the combined LTV is 56%. The loan term is 1 year but it’s amortized over 20 years. The excellent location and strong cash flow allowed us to move quickly and fund this bridge loan just 10 days after the initial inquiry, in September 2014.