Recent Transaction in Pasadena, CA – Business Purpose Purchase

Property / Loan Information
Property Type Single Family Residence
Lien Position 1st TD
Loan Amount $2,080,000
Appraised Value $3.20Mil
Occup Non-Owner Occ.
Lender Rate 10.75%
LTV on Purchase Price 75.17%
Loan Type Business Purpose Purchase
Amortization Interest Only Due in 18 mos.
Guaranteed Interest 6 months

 

 

 

Loan Scenario:

718 and 711 FICO Borrowers refinanced their private money loan used to purchase this rental property.   Borrowers purchased the property in 2014 and have put in more than $300k of improvements so far. Wife is a Doctor and the Husband and Wife team operate multiple pediatric care facilities in LA.

718 and 711 FICO Borrowers refinanced their private money loan used to purchase this rental property.   Borrowers purchased the property in 2014 and have put in more than $300k of improvements so far. Wife is a Doctor and the Husband and Wife team operate multiple pediatric care facilities in LA.