Loan Type: Property Type: LTV: Location: Loan Amount: Rate: Term: Prepayment Penalty: Private Money Loan Purchase Single Family Residence Investment Property 45% Forestville, CA $160,000.00 10.5% 3 years 6 months |
Scenario:
The borrower was “In Contract” to purchase this investment property. Due to a recent divorce the borrower had insufficient income and credit to qualify for a conventional loan. Due to substantial equity and the rental income from the home California Private Money Lenders was able to lend the funds necessary to close the purchase.