Equity Cash-Out Bridge Loan for Fourplex in Inglewood, California

Funded by Wilshire Quinn Capital, Inc.

$240,000

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

03/15/2017

Property Type
2-4 Units Residential
Property City

Inglewood

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

25%

Building Square Footage

3,430

Lot Acreage

0.2

Deal Summary

Wilshire Quinn Capital, a portfolio bridge lender, funded a $240,000 1st lien position equity cash-out loan for a 4-unit apartment complex in Inglewood, LA County, CA. The loan allowed the Borrower to pull cash out of the property which will be used for the down payment on another investment property. The multi-family property consists of 4 units totaling 3,430 square feet on a 10,400 square foot lot. The property was appraised last month for $950,000, resulting in a total loan-to-value of 25 percent. This equity cash-out bridge loan was funded in March 2017. 

Funded By

Wilshire Quinn Capital, Inc.

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