Loan Type: Property Type: LTV: Location: Loan Amount: Rate: Term Prepayment Penalty:
Private Money Loan Purchase Winery/Vineyard 50% Hopland, CA $2,800,000.00 12% 2 years 6 months |
Scenario: Borrower was “in contract” to buy this property with a $400,000.00 deposit that had become “non-refundable”. His conventional lender, that had approved his loan, backed out at the last minute. Borrower needed to close escrow in 3 weeks or he would lose his $400,000.00 deposit. California Private Money Lenders was able to fund this loan in 2 weeks.