Private Money Loan for SFR Purchase in Brea, California

Funded by SDC Capital

$570,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

10/04/2016

Property Type
Single Family Residence
Property City

Brea

Property State

CA

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

90%

Interest Rate

8.99%

Deal Summary

SDC Capital, a direct private lender based in Burbank, funded a $570,000 1st lien position private money loan for Brea House in Brea, Orange Country, CA. At SDC, we strive to create mutually beneficial relationships with our Borrowers and this deal was a perfect example of the benefits of such relationships. Last month, one of our repeat Borrowers came to us to finance the purchase of a single-family residence in Brea which required a fast closing and nearly 100% leverage. On the surface, that looks like an easy pass, but in knowing this borrower well it was actually quite the opposite. In a previous deal, we had cross-collateralized his primary residence to achieve our desired LTV. The Borrower hoped he could again tap the equity in his home as his liquidity was tied up in other deals. With an accepted offer on a property he couldn’t pass up, we were the first call he made and the only one he needed. SDC Capital was able to provide the loan with a 90% LTV, a 12-month term, and an 8.99% interest rate. This SFR private money loan was funded in October 2016. 

Funded By

SDC Capital

Family Office Lender. No 3rd-party appraisal (typically). Soft Money Terms in 1st or 2nd Lien Position.