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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
02/15/2017
Property Type
Single Family Residence
Property City
La Jolla
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
60%
Building Square Footage
2,240
Deal Summary
Wilshire Quinn Capital, a portfolio bridge lender, funded a $990,000 1st lien position bridge loan secured by a rental home in La Jolla, San Diego, CA. The home was being used as a rental property and the loan allowed the Borrower to pull cash out for business purposes. Located in the Muirlands area of La Jolla, the single-family residence consists of 3 bedrooms, 3 baths, and 2,240 square feet, on a half-acre lot. The property was appraised last month for $1,650,000, giving the Wilshire Quinn Income Fund a total loan-to-value of 60%. This loan was funded in February 2017
Funded By
Wilshire Quinn Capital, Inc.
Bridge Loans for Commercial and Residential Property Nationwide