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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
11/17/2014
Property Type
Single Family Residence
Property City
San Jose
Property State
CA
Interest Rate
%
Origination Points
%
Deal Summary
Private bridge loan secured by a single family rental home in West San Jose, funded in November 2014. The Borrowers owned the property free and clear, but they need to cash out some equity to use for other Bay Area real estate investments. The property was valued at $870K, resulting in just over 70% LTV. The Borrowers will work on a conventional refinance in the next 6 months. The term for this 1st trust deed mortgage is 1 year.
Funded By
Security Financial Services
Direct Lender for Northern California Property Investors | Established 1943