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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
09/15/2015
Property Type
Single Family Residence
Property City
Costa Mesa
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$950,000
Loan-to-Value
60%
Building Square Footage
2,300
Deal Summary
Wilshire Quinn Capital, a portfolio bridge lender, funded a $570,000 1st lien position equity cash-out loan for a single-family rental in Costa Mesa, CA. The Borrower refinanced the property in order to invest in a business venture. Built in 2007, the single-family residence consists of three bedrooms, two and a half baths, and approximately 2,300 square feet. The property was appraised last month for $950,000, giving the Wilshire Quinn Income Fund a total loan-to-value of 60 percent on the transaction. This SFR equity cash-out loan was funded in September 2015.
Funded By
Wilshire Quinn Capital, Inc.
Bridge Loans for Commercial and Residential Property Nationwide