Private Money Loan for SFR Investment Property in Long Beach, California

Funded by Wilshire Quinn Capital, Inc.

$450,000

Deal Details

Private Loan Type

Residential Rehab

Approx. Funding Date

07/15/2015

Property Type
Single Family Residence
Property City

Long Beach

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value

$825,000

Loan-to-Value

55%

Building Square Footage

2,100

Lot Square Footage

9,000

Deal Highlights

We paid off the previous lender.
We provided the equity cash-out funds just 4 days after the initial request.

Deal Summary

Wilshire Quinn Capital, a portfolio bridge lender, funded a $450,000 1st lien position private money loan was a vacant single-family home in Long Beach, California. The proceeds from the loan are being used to complete a minor rehab on the property. The property consists of more than 2,100 square feet with 4 bedrooms, and 2 baths, on a 9,000 square foot lot. The property was appraised for $825,000 so the loan-to-value is 55% LTV. We paid off the previous lender and provided the equity cash-out funds just 4 days after the initial request. The Borrower plans to rent the home and a bank refinance will pay off this 1st trust deed private mortgage.

Funded By

Wilshire Quinn Capital, Inc.

Bridge Loans for Commercial and Residential Property Nationwide